Incentivizing US rare earth manufacturing for national security and supply chain.
This Act establishes a federal grant program to incentivize companies to invest in building and upgrading facilities that process rare earth elements (critical for electronics and defense) within the United States. The goal is to enhance national security and reduce reliance on foreign supply chains. Citizens may experience an indirect impact through the creation of new, high-skilled manufacturing jobs and the strengthening of supply chains for critical technologies.
Key points
Federal Financial Assistance: The Department of Energy will establish a program to provide financial assistance (minimum $100 million per project) to entities constructing or upgrading rare earth metallurgy facilities in the US.
Security and Exclusion: Funding is tied to national security; entities linked to 'foreign entities of concern' (e.g., terrorist organizations or sanctioned governments) are strictly excluded from receiving financial aid.
Workforce Development: Companies seeking funding must commit to investing in worker training, education benefits, and programs to expand employment opportunities for economically disadvantaged individuals.
International Cooperation: The Act authorizes the creation of the Minerals Security Partnership Fund to support the development of secure global rare earth supply chains in coordination with US partner countries.
Expired
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