Sens. Shaheen and Young, Reps. Wittman and Moolenaar Introduce New Bipartisan Bill to Increase Domestic Supply of Critical Minerals, Create a Strategic Resilience Reserve to Support National and Economic Security
**New bipartisan, bicameral bill makes a historic $2.5 billion investment to strengthen national and economic security by reducing reliance on China for critical minerals**
(Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Todd Young (R-IN), alongside U.S. Representatives Rob Wittman (R-VA-01) and John Moolenaar (R-MI-02), are today introducing new bipartisan, bicameral legislation to support domestic supply chains for critical minerals to meet national and economic security needs through the creation of a new Strategic Resilience Reserve (SRR).
Critical minerals have emerged as a key chokepoint in the global economy and give the People’s Republic of China enormous leverage, as they’ve demonstrated in the last year. Just like the Strategic Petroleum Reserve and the CHIPS and Science Act have created more resilient domestic supplies of energy and semiconductors, this bipartisan legislation will play a vital role in insulating the U.S. economy from external threats and creating good-paying jobs at home.
Specifically, the new Securing Essential and Critical U.S. Resources and Elements (SECURE) Minerals Act would establish the SRR in an independent government corporation—run by a seven-member board appointed by the President and confirmed by the Senate—to focus on supporting the critical minerals market, including through stable prices, expanding domestic and allied production capacity and recycling, stockpiles, competitive markets and supply chain work, with minerals where the U.S. is reliant on China (including rare earths, where China controls 90 percent of processing) and recycling prioritized. The legislation also prioritizes support for projects that recycle, reuse or repurpose critical minerals or extract minerals from mining or industrial waste.
“China’s global dominance of critical minerals supply chains gives it significant leverage and leaves the U.S. vulnerable to economic coercion. This bipartisan legislation is a historic investment in making the U.S. economy more resilient and supporting good-paying jobs in key sectors like aerospace, autos and technology,” said Senator Shaheen. “Delivering much-needed stability to the market, providing targeted investments and stockpiling key inputs will help insulate the U.S. from foreign threats and will provide a significant, and cost effective, boost to the U.S. economy.”
“For years, China has leveraged its dominance of critical minerals by manipulating global markets and supply chains. Our bill would counter China’s ongoing coercion and ensure the United States has a secure and accessible supply of the minerals that power our defense systems and high-tech industries. Creating this Reserve is a much-needed, aggressive step to protect our national and economic security,” said Senator Young.
“The United States, not communist China, should be leading the way in critical minerals like those we have in Nevada,” said Senator Cortez Masto. “Our bipartisan legislation would help bolster our supply chains, create more good-paying jobs here at home, and build a strategic reserve that enhances our global competitiveness. This is a necessary and strategic step for our economy and for our national security.”
In the Senate, the bipartisan SECURE Minerals Act is cosponsored by U.S. Senators Catherine Cortez Masto (D-NV) and Mike Rounds (R-SD).
The bill is supported by: the Alliance for Automotive Innovation, American Critical Minerals Association, Arizona State University, Bipartisan Policy Center Action, the Breakthrough Institute, Center for Public Enterprise, Employ America, Foundation for American Innovation, Institute for Progress, Jervois, New American Industrial Alliance, TechMet, Zeno Power
Click HERE to view a one-pager on the SECURE Minerals Act.
Click HERE to view a Section-by-Section of the SECURE Minerals Act
Click HERE to view bill text.
Last year, Shaheen and U.S. Senator John Curtis (R-UT) introduced bipartisan legislation to bolster partnerships with allies to secure the global supply of critical minerals. The bill both authorizes U.S. participation in the Mineral Security Partnership and authorizes the President to form an international coalition focused on securing reliable critical mineral supply chains and the components that depend on them.
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