S.Amdt. 476

MR. PETERS submitted this amendment, numbered SA 476, to the concurrent resolution on the congressional budget for the United States Government for fiscal year 2025 and for fiscal years 2026 through 2034.

The purpose of the amendment is to create a deficit-neutral reserve fund. This fund relates to ensuring that the United States does not cede the future of the battery supply chain to the People's Republic of China.

It aims to allow the Chairman of the Committee on the Budget of the Senate to revise committee allocations, aggregates, and other appropriate levels in the resolution, and make adjustments to the pay-as-you-go ledger. This applies to legislation relating to ensuring the United States does not cede the future of the battery supply chain to China, provided the legislation does not increase the deficit over the total period of fiscal years 2025 through 2034.

Specifically, the amendment mentions supporting the following actions through such legislation:

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