H.R. 2849 · 118th Congress

Rare Earth Magnet Manufacturing Production Tax Credit Act of 2023

Introduced on Apr 25, 2023 by Guy Reschenthaler (R-PA-14). 27 cosponsors, 13 of them from another party. Latest action (Apr 25, 2023): Referred to the House Committee on Ways and Means.

Stage
Introduced
Introduced
Apr 25, 2023
Cosponsors
27
13 from the other party
Policy area
Taxation
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Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. 2Reported by committee
  3. 3Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

Official title

To amend the Internal Revenue Code of 1986 to establish a credit for the domestic production of rare earth magnets, and for other purposes.

Subjects

  • Income tax credits
  • Manufacturing
  • Materials
  • Metals
  • Strategic materials and reserves

Summary

The Congressional Research Service has not summarized this measure yet.

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Guy ReschenthalerR-PA-14Sponsor

Democrats · 13

Republicans · 14

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

No recorded roll call on this measure: it moved by voice vote or unanimous consent, or has not reached the floor.

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. Apr 25, 2023Introduced in House
  2. Apr 25, 2023Introduced in House
  3. Apr 25, 2023 · HouseReferred to the House Committee on Ways and Means.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Who lobbied on it

Organizations whose lobbying reports (LD-2) name this measure. Spending is what they reported for those quarters on all issues, not on this measure alone.

  1. Ara Partners8 reports
    $390K reported (all issues)
  2. Elk Creek Resources Corp.5 reports
    $100K reported (all issues)
  3. NIRON MAGNETICS INC5 reports
    $180K reported (all issues)Federal contractor: NIRON MAGNETICS INCAI match · 100%
  4. National Mining Association5 reports
    $2.9M reported (all issues)
  5. Securing America's Future Energy Alliance3 reports
    $220K reported (all issues)
  6. APPLIED MATERIALS, INC.2 reports
    $1.2M reported (all issues)Federal contractor: APPLIED MATERIALS, INCAI match · 100%
  7. SCHAEFFLER GROUP USA INC2 reports
    $100K reported (all issues)
  8. Ara Partners FKA ​Ara Advisers PSG LLC1 report
    $50K reported (all issues)
  9. MP MATERIALS CORP.1 report
    $30K reported (all issues)
  10. USA Rare Earth1 report
    $20K reported (all issues)

Reports filed in 2023, 2024, 2025, 2026.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 9, 2026 · loaded Oct 9, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 9, 2026 · loaded Oct 9, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.
  • Money and votes are shown side by side; neither explains the other.