Rare Earth Magnet Security Act of 2025
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 30
- Latest action
- Feb 21, 2025
What it does
The Rare Earth Magnet Security Act of 2025 would establish a federal tax credit for domestic production of high-performance rare earth magnets, offering $20 per kilogram for magnets made in the U.S. and $30 per kilogram if at least 90% of the rare earth materials used are also domestically sourced. The credit applies to manufacturers selling to unrelated persons (with an option to elect related-party sales as unrelated), phases out after 2034, and includes restrictions on sourcing materials from non-allied foreign nations, with temporary exemptions for certain materials until 2027. The bill amends the Internal Revenue Code to add this credit as part of the general business credit, effective…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.