Alcoa Corporation welcomes the U.S. Treasury Department’s final regulations on the Section 45X Advanced Manufacturing Production Credit, enacted as part of the Inflation Reduction Act (IRA).
As recognised by the Administration, Section 45X is an important tool for shoring up domestic manufacturing of critical materials, including commercial-grade aluminium from Alcoa’s U.S. smelters in Newburgh, Indiana, and Massena, New York. The aluminium produced at these facilities plays a crucial role in multiple domestic manufacturing segments, including clean energy, automotive, aerospace and building materials.
Alcoa is pleased that the Treasury Department included some direct and indirect material costs. We continue to evaluate the regulations in detail to determine impacts on our U.S. smelters.
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