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119-hr-7644119th Congress

Millennium Challenge Corporation Strategic Modernization Act

Sponsored By: Representative Barr, Andy [R-KY-6]

Introduced

Summary

This bill would shift the Millennium Challenge Corporation toward strategic competition and critical minerals while keeping its core development mission. It would add new tools for screening partner countries, create a Critical Minerals Task Force, and shorten Compact timelines to speed projects and attract private investment.

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  • Families and communities in partner countries would still see programs aimed at poverty reduction and sustainable growth, but projects would be weighed for how they strengthen critical mineral supply chains and strategic infrastructure.
  • U.S. companies and investors would get earlier chances to shape projects and be evaluated for increased participation, which aims to mobilize private capital and expand U.S. trade and investment in recipient markets.
  • MCC governance and oversight would change. A Board-level Critical Minerals Task Force and a required Great Power Competition Factsheet would use data on trade dependencies, state‑owned enterprises, debt exposure, infrastructure control, and mineral endowments to inform eligibility. Compacts would face a 5-year implementation cap, obligation of full funding at execution, and required consultation with congressional committees.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

MCC shifts to defend U.S. supply chains

If enacted, the bill would add advancing U.S. economic security and critical minerals to MCC's mission. The Board would create a Critical Minerals Task Force to study mineral supply chain risks and recommend reforms. The law would not let MCC do mining or subsidize mineral production. The Board would also use a Great Power Competition factsheet when choosing eligible countries. That factsheet would look at trade, investment, debt, ports and power, mineral endowments and governance, and similar factors. MCC would add a framework to Compact economic reports showing benefits to the United States, like supply chain resilience and U.S. company participation.

Faster compacts but tighter funding rules

If enacted, MCC Compacts would have a five‑year maximum implementation period. The Corporation would have to obligate all Compact funding when a Compact is signed. MCC would consult the appropriate congressional committees at the start of implementation. MCC would be required to engage U.S. private companies, investors, and experts early when planning Compacts and certain programs. MCC would also be required to complete due diligence quickly and give periodic written updates to the Board and consult Congress about delays. The law would not let these rules bypass existing Compact requirements.

Sponsors & CoSponsors

Sponsor

Barr, Andy [R-KY-6]

KY • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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