US Sens. Brown, Portman introduce tax cut for the steel industry

YOUNGSTOWN — U.S. Sens. Sherrod Brown, a Democrat from Cleveland and Rob Portman, a Republican from the Cincinnati area, announced today that they will reintroduce the Steel Industry Preservation Act.

The bipartisan legislation would create a tax credit for domestic steel companies, lower the cost of steel production, and promote job growth within the industry.

Brown and Portman both co-sponsored the legislation in the last session of Congress.

Brown and Portman have also worked to give domestic industries the ability to fight unfair trade practices. In June 2015, the Leveling the Playing Field Act, introduced by Brown and co-sponsored by Portman, was signed into law, ushering in the most significant changes to trade remedy law since 2002, says a Brown news release.