To establish a loan program to expand capabilities to manufacture critical materials to secure the United States supply chain, to amend the Internal Revenue Code of 1986 to provide credits for qualified investments into critical material facilities and production credits for manufacturing critical materials, and to authorize cross-cutting research, development, and demonstration activities relating to critical material supply chains, and for other purposes.

H.R. 4350, introduced in the 119th Congress on July 10, 2025, aims to establish a loan program to enhance the manufacturing capabilities of critical materials in the United States to secure the national supply chain. The bill proposes amending the Internal Revenue Code of 1986 to offer credits for qualified investments in critical material facilities and manufacturing of such materials. Additionally, it seeks to authorize research, development, and demonstration activities that cut across various sectors to strengthen the supply chains of critical materials.