Act to Strengthen Domestic Industrial Base and Strategic Material Stockpiles
This act aims to reduce US reliance on other countries for key materials needed for defense and industry. It makes it easier for the government to buy and stockpile these materials and increases the ability to quickly address domestic shortages, potentially impacting security and economic stability.
Key points
Allows faster purchase and stockpiling of important materials for national defense reserves when shortfalls exist.
Increases the amount the government can spend to fix shortages in key industries, especially for strategic materials and critical minerals.
Requires a report on potential cooperation with allies (Canada, UK, Australia) to secure supplies of these materials.
Expired
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