Rare Earth Magnet Security Act of 2025
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 3
- Latest action
- Jun 5, 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 taxpayers who manufacture or produce such magnets in the ordinary course of a trade or business and sell them to unrelated persons, with provisions allowing elections to treat sales to related parties as sales to unrelated persons and elective payment options. The credit phases out after 2034, reaching zero for production after December 31, 2037, and includes restrictions on…
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.