S.Amdt. 2038

Mr. Peters submitted amendment SA 2038 to the concurrent resolution establishing the congressional budget for the United States Government for fiscal year 2025 and setting forth appropriate budgetary levels for fiscal years 2026 through 2034.

The amendment aims to add a deficit-neutral reserve fund relating to ensuring the United States does not cede the future of the battery supply chain to China.

Specifically, it allows the Chairman of the Committee on the Budget of the Senate to revise allocations, aggregates, and other appropriate levels, and make adjustments to the pay-as-you-go ledger for legislation relating to ensuring the United States does not cede the future of the battery supply chain to the People's Republic of China, provided the legislation does not increase the deficit over the period of fiscal years 2025 through 2034.

• Supports tax incentives similar to section 45X of the Internal Revenue Code of 1986.
• Incentivizes investments in domestic battery manufacturing and research and development, such as the incentive included in the Infrastructure Investment and Jobs Act.
• Strengthens Department of Energy loan programs designed to boost battery manufacturing in the United States.