Bill · S. 4033· Senate(119-S-4033)
Critical Minerals Investment Tax Modernization Act of 2026
- Introduced
- 3/10/2026
- Last activity
- 3/10/2026 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Jon Husted
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill is known as the Critical Minerals Investment Tax Modernization Act of 2026. It was introduced in the Senate on March 10, 2026, by Mr. Husted. The legislation amends the Internal Revenue Code of 1986. Its main purpose is to adjust the percentage depletion rate for certain rare earths and other purposes. Specifically, it changes the rules regarding tax deductions related to the extraction of these materials. The new rate applies to taxable years beginning after the date the Act is enacted.
Yes· 3 of 11
Does this cut taxes for small businesses?+5
The bill adjusts the percentage depletion rate for rare earths and scandium, potentially lowering tax burdens for businesses involved in critical mineral extraction.
Would business owners be better off under this?+4
Business owners and investors in the critical minerals and mining sectors benefit from favorable tax depletion rates.
Is this likely to create jobs?+3
Encouraging rare earth extraction through tax incentives could stimulate employment in the domestic mining and critical minerals sector.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Section 2(a) adjusts the percentage depletion rate to 22 percent for rare earths, which are defined as the 15 lanthanide elements, and scandium, by amending section 613(b)(1)(B) of the Internal Revenue Code of 1986. This change might be considered a positive benefit or outcome because it alters the tax rules for extracting these specific materials.
Potential Negative Impacts for People
- The provided text does not contain any specific sections or provisions that identify negative consequences or burdens for individuals or groups of people in the United States.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Reduces Small Business Taxes+5Improves Economic Growth+3Improves Small Business Support+3Increases Job Creation+3
- Demographic And Interest Groups
- Good For Business Owners+4Good For Rural Residents+3Good For Union Workers+2
- Environment Energy And Infrastructure
- Improves Rural Development+3Increases Renewable Energy Investment+3Reduces Carbon Emissions+2
- National Security And Foreign Policy
- Improves International Trade+3
- 3/10/2026
- Read twice and referred to the Committee on Finance.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.