Unearth America’s Future Act

This proposal aims to boost U.S. production of “critical materials” used in energy, technology, and defense. It creates a national center, a loan program, and a public‑private partnership to help companies build or upgrade facilities in the United States or certain partner countries, while barring support for projects tied to countries of concern. The goal is a safer, more transparent supply chain that supports U.S. jobs and security .

The loan program can offer low‑interest, long‑term loans (up to 25 years), with per‑project caps that can reach up to $2 billion in the U.S. and $500 million abroad. It favors projects that grow domestic supply and buy U.S.-made equipment. If recipients break the rules or miss build‑out deadlines, the government can claw back funds to protect taxpayers .

It also adds two tax credits. First, an investment credit (generally 15%, rising to 25% for projects that meet stronger standards) to help pay for new or expanded facilities; there’s also an option to take certain credits as a payment. Second, a production credit based on a share of production costs: 15% at the earliest stage, or 10%/7.5% when inputs are sourced domestically or from approved countries, with a 10‑point bonus for meeting wage and apprenticeship standards. You cannot “double dip” with certain other credits. The investment credit ends for projects starting after 2029, and the production credit phases down from 2031 to 2034 .

Finally, it funds research and pilot projects to test new technologies, recycling, and substitutes. Grants can be up to $25 million each, with at least 40% going to recycling and substitute materials, and they may not shift manufacturing to countries of concern. Funding is authorized at $150 million per year for 2026–2030. The bill also authorizes loan funding that ramps up to as much as $10 billion per year by 2030, and the main program ends 10 years after enactment .

Key points

• Who is affected: Companies that extract, process, refine, convert, or recycle critical materials; equipment makers; and U.S. workers on these projects.
• What changes: New loans and a public‑private partnership to build supply; investment and production tax credits; strong guardrails against countries of concern; priority for U.S.-made equipment; and the ability to claw back funds if rules aren’t followed .
• When: The center, loans, and partnership must start within one year of the law taking effect; pilot‑project funding runs 2026–2030; the investment credit applies to property placed in service after enactment (for projects begun by 2029); the production credit phases down 2031–2034; and the main program ends 10 years after enactment .