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119-hr-10395119th CongressWALLET

Critical Materials Future Act of 2025

Sponsored By: Representative McCollum, Betty [D-MN-4]

Introduced

Summary

Boost U.S. critical material processing capacity and secure supply chains. This pilot creates market‑oriented financial tools to help domestic facilities refine, process, and recycle critical materials for first‑use applications.

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  • Domestic processors and recyclers gain access to targeted support such as price support, advanced market commitments, and other transaction types to turn raw critical materials into purified forms.
  • The program is designed to attract private capital using tools like contracts for differences and forward contracts. The Secretary must select projects within 1 year and support at least 3 projects.
  • Prioritizes projects that use domestic or "reliable" feedstock and reduce dependence on "entities of concern." It coordinates with Defense, Commerce, Interior, State, the U.S. Geological Survey, and the U.S. Trade Representative and requires annual reports and a final study.

*Authorizes $750.0 million in appropriations, available until expended, and establishes a revolving fund to reinvest project returns.*

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 3 benefits, 0 costs, 1 mixed.

Money and market tools for projects

If enacted, the bill would authorize $750 million to carry out the Pilot Program, with the money available until spent. The bill would create a Critical Materials Revolving Fund in the Treasury to reinvest returns from eligible projects into new projects. The Secretary would be able to use contracts, grants, cooperative agreements, and other transactions to provide market‑facing tools such as contracts for differences, price supports, advanced market commitments, forward contracts, and leverage functions. These financial tools would be directed to participants not designated as entities of concern.

Annual reports and final study

If enacted, the Secretary would send yearly reports to specific House and Senate committees while the Pilot Program runs. Reports would describe activities, spending, outcomes, and recommend whether to continue or expand the program and how to use financial tools to meet goals. The Secretary would publish a full study within two years after the pilot ends evaluating cost‑effectiveness, funding needs to secure reliable U.S. supply chains, recycling potential, project outcomes, and whether DARPA models helped market anticipation.

New pilot for critical materials

If enacted, the bill would require the Department of Energy to set up a Domestic Critical Material Processing Pilot Program within 180 days. The program would back at least 3 domestic processing projects and processing of at least 3 different critical materials. No single material could receive more than half of the program funding. Only projects that refine, process, or recycle raw critical materials into purified forms for first use would be eligible.

Project selection and exclusion rules

If enacted, the Secretary would pick which projects get program support within one year. The Secretary would use factors like U.S. economic, energy, and national security value; competitiveness; financial sustainability; and mitigation of import risk. Projects using domestic or "reliable" feedstock, projects that secure domestic or reliable offtake, and more economically competitive projects would get higher priority. The Secretary would define and exclude "entities of concern" (those subject to foreign control or influence) and limit innovative financial tools to non‑entity‑of‑concern participants. The Secretary would coordinate selection with Commerce, Defense, Interior, State, USGS, and the U.S. Trade Representative and include DARPA Open Price Exploration insights.

Sponsors & CoSponsors

Sponsor

McCollum, Betty [D-MN-4]

MN • D

Cosponsors

  • Rep. Vindman, Eugene Simon [D-VA-7]

    VA • D

    Sponsored 10/26/2026

  • Rep. Van Epps, Matt [R-TN-7]

    TN • R

    Sponsored 9/15/2026

  • Rep. Mannion, John W. [D-NY-22]

    NY • D

    Sponsored 9/15/2026

Roll Call Votes

No roll call votes available for this bill.

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