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Support for US Critical Mineral Mining and Recycling

This bill aims to strengthen US production of critical minerals like lithium and cobalt through tax deductions for companies involved in their mining and recycling. This could lead to greater availability of these materials, impacting technology, medicine, and defense development, and potentially creating new jobs in the US mining and recycling sectors.
Key points
Companies mining or recycling critical minerals in the US can deduct 100% of equipment and real estate costs from taxes.
Companies purchasing critical minerals extracted in the US can deduct 200% of their cost from taxes.
Increased tax benefits for critical mineral extraction in the US.
Grant program up to $10 million for critical mineral development projects, prioritizing economically viable and recycling-focused initiatives.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_2688
Sponsor: Rep. Gooden, Lance [R-TX-5]
Process start date: 2021-04-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction for the mining, reclaiming, or recycling of critical minerals and metals from the United States, and to support the development of domestic supply chains for rare earth elements and other critical materials essential to United States technology, manufacturing, energy, healthcare and advanced medical devices, broadband infrastructure, transportation, and national defense.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2688.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-20.

What are the main provisions?

Key points include:

  • Companies mining or recycling critical minerals in the US can deduct 100% of equipment and real estate costs from taxes.
  • Companies purchasing critical minerals extracted in the US can deduct 200% of their cost from taxes.
  • Increased tax benefits for critical mineral extraction in the US.
  • Grant program up to $10 million for critical mineral development projects, prioritizing economically viable and recycling-focused initiatives.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gooden, Lance [R-TX-5].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Energy and Mineral Resources.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Economy Environment