Critical Materials Future Act of 2025
Sponsored By: Senator John Hickenlooper
In Committee
Summary
Expand domestic critical materials processing to reduce supply chain vulnerabilities. It would create a Department of Energy pilot that uses innovative financial tools to attract private investment and test price‑support and other mechanisms for at least three domestic processing projects.
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- Would back domestic miners and processors with contracts, grants, cooperative agreements, and price‑support tools to stabilize project revenue. The pilot must support not fewer than three projects and may not give more than 50 percent of pilot funding to any single material.
- Would aim to draw private capital and reinvest project revenues by creating a Critical Materials Revolving Fund and allowing flexible contracting and other transactions to make projects more attractive to investors.
- Would coordinate Commerce, Defense, Interior, State, US Geological Survey, USTR, and DARPA to prioritize projects that cut imports from listed "entities of concern" and to require annual reporting and a post‑pilot study on cost effectiveness and market transparency.
*Would authorize $750 million in appropriations for the pilot, increasing federal spending by that amount.*
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
New financing tools and revolving fund
If enacted, the Secretary would be allowed to use new "innovative financial tools" to lower price and market risk for projects. Tools named include contracts for differences, price floors, advanced market commitments, and forward contracts, plus other transaction authorities. The bill would create a Critical Materials Revolving Fund at Treasury so money returned from supported projects can be reinvested. The Secretary could steer support away from entities the Secretary calls "entities of concern."
Pilot to fund domestic material processors
If enacted, the bill would authorize $750 million for a DOE pilot to support U.S. critical material processors. The Department would have to set up the pilot within 180 days. The pilot must back at least three projects covering at least three different critical materials. No single material could get more than half of the pilot funding. The Secretary must pick projects within one year and end the pilot no later than five years after it starts.
Project selection rules for businesses
If enacted, the Secretary would pick pilot projects based on national security, energy, and economic impact and on financial sustainability. Projects that use domestic or otherwise reliable feedstock and that can secure offtake deals would get priority. The Secretary must coordinate with other agencies, consult outside experts, and send Congress annual reports while the pilot runs. Within two years after the pilot ends, DOE would study which tools worked and share results with DARPA.
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Sponsors & CoSponsors
Sponsor
John Hickenlooper
CO • D
Cosponsors
Lindsey Graham
SC • R
Sponsored 2/13/2025
Christopher Coons
DE • D
Sponsored 2/13/2025
Todd Young
IN • R
Sponsored 2/13/2025
Roll Call Votes
No roll call votes available for this bill.
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