In CommitteeFiled Jun 9, 2026
Sponsor: Rep. Moolenaar, John R. [R-MI-2] (R)
Latest Action
Referred to the House Committee on Ways and Means.
Jun 9, 2026
Summary
The Magnets Value Chain Support Act adds a new tax credit for companies that make permanent magnets, magnet metals, or rare‑earth oxides in the United States. Eligible firms receive a per‑kilogram credit that varies with the magnet’s performance level and the domestic content of its inputs. The measure aims to cut U.S. reliance on foreign, especially Chinese, sources of these critical components.
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