Cortez Masto working on tax credits for battery, rare earth industries

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Nevada Democratic Sen. Catherine Cortez Masto is crafting legislation to give tax credits to  battery and rare earth magnet manufacturers to increase production of materials used in electric vehicles and other technologies, an effort she says would create more jobs in the state’s mineral processing and recycling sector.

Members of the Senate Energy and Natural Resources Committee, including Cortez Masto, agreed during a hearing last week that more domestic production of lithium, nickel, cobalt and rare earth minerals would be needed to increase use of electric vehicles. 

President Joe Biden has set a target of making half of all U.S. vehicles electric by 2030, a goal senators of both parties said was unlikely if the nation fails to produce the minerals needed for those vehicles’ batteries.

Cortez Masto said Nevada was uniquely positioned as…

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