5
1

Rare Earth Magnet Security Act of 2025

6/19/2025, 3:38 AM

Summary of Bill S 1979

This bill, designated as S. 1979 in the 119th Congress and introduced on June 5, 2025, aims to amend the Internal Revenue Code of 1986 to create a credit for the domestic manufacturing of high-performance rare earth magnets.

Read the Full Bill

Formatted TextPDFFormatted XML

Current Status of Bill S 1979

Bill S 1979 is currently in the status of Bill Introduced since June 5, 2025. Bill S 1979 was introduced during Congress 119 and was introduced to the Senate on June 5, 2025.  Bill S 1979's most recent activity was Read twice and referred to the Committee on Finance. as of June 5, 2025

Bipartisan Support of Bill S 1979

Total Number of Sponsors
2
Democrat Sponsors
2
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
0
Republican Cosponsors
2
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 1979

Primary Policy Focus

Alternate Title(s) of Bill S 1979

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.
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.

Comments

Sponsors and Cosponsors of S 1979

Catherine Cortez Masto
Catherine Cortez Masto
NevadaDemocrat
Markwayne Mullin
Markwayne Mullin
OklahomaRepublican
Lindsey Graham
Lindsey Graham
South CarolinaRepublican

Latest Bills

ESTUARIES Act
Bill HR 3962December 13, 2025
Federal Maritime Commission Reauthorization Act of 2025
Bill HR 4183December 13, 2025
National Defense Authorization Act for Fiscal Year 2026
Bill S 1071December 13, 2025
Enduring Justice for Victims of Trafficking Act
Bill S 2584December 13, 2025
Technical Corrections to the Northwestern New Mexico Rural Water Projects Act, Taos Pueblo Indian Water Rights Settlement Act, and Aamodt Litigation Settlement Act
Bill S 640December 13, 2025
Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025
Bill HR 3383December 13, 2025
BOWOW Act of 2025
Bill HR 4638December 13, 2025
Northern Mariana Islands Small Business Access Act
Bill HR 3496December 13, 2025
Wildfire Risk Evaluation Act
Bill HR 3924December 13, 2025
Energy Choice Act
Bill HR 3699December 13, 2025