H.R.9227

Magnets Value Chain Support Act of 2026 incentivizes domestic production and use of permanent magnets.

The Magnets Value Chain Support Act of 2026 amends the Internal Revenue Code to create tax credits for domestic production and use of permanent magnets. It establishes a magnet value chain support credit for expenditures on permanent magnets, magnet metals, and rare earth oxides. It also creates a domestic magnet input usage credit for magnet metals used in covered products. The credits incentivize domestic production and use of permanent magnets, aiming to reduce U.S. dependence on foreign sources, particularly China.