Introduced
H. R. 1496
Introduced in House · March 17, 2025February 21, 2025
Mr. Reschenthaler (for himself, Mr. Swalwell, Mr. Hudson, Ms. Lee of Nevada, Mr. Calvert, Ms. Castor of Florida, Mr. Obernolte, Mr. Tonko, Mr. Moolenaar, Mr. Deluzio, Mr. Meuser, Mr. Panetta, Mr. Mills, and Ms. Houlahan) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to establish a credit for the domestic production of high-performance rare earth magnets, and for other purposes.
Credit for production of rare earth magnets
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Short title.
This Act may be cited as the “Rare Earth Magnet Security Act of 2025”.