[Congressional Record Volume 167, Number 90 (Monday, May 24, 2021)]
[Senate]
[Pages S3341-S3342]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1927. Mr. ROMNEY submitted an amendment intended to be proposed to 
amendment SA 1502 proposed by Mr. Schumer to the bill S. 1260, to 
establish a new Directorate for Technology and Innovation in the 
National Science Foundation, to establish a regional technology hub 
program, to require a strategy and report on economic security, 
science, research, innovation, manufacturing, and job creation, to 
establish a critical supply chain resiliency program, and for other 
purposes; which was ordered to lie on the table; as follows:

        At the end of subtitle C of title IV of division D, add 
     the following:

     SEC. 4463. REPORT ON DOMESTIC PROCESSING OF RARE EARTHS.

       (a) In General.--Not later than 90 days after the date of 
     the enactment of this Act, the Under Secretary of Defense for 
     Acquisition and Sustainment shall submit to the appropriate 
     committees of Congress a report on the authority and funding 
     required to create long-term contracts for domestic 
     processing of heavy rare earths sufficient to achieve

[[Page S3342]]

     supply chain independence for the United States Armed Forces 
     and key allies and partners of the United States.
       (b) Elements.--The report required by subsection (a) shall 
     include the following:
       (1) An estimate of the annual demand for processed heavy 
     rare earths for the United States Armed Forces and key allies 
     and partners of the United States.
       (2) An outline of the necessary processed heavy rare earths 
     value chain required to support the needs of the Department 
     of Defense.
       (3) An assessment of gaps in the outline described in 
     paragraph (2) indicating where sufficient domestic capacity 
     already exists and where such capacity does not exist.
       (4) An identification of any Federal funds, including any 
     funds made available under title III of the Defense 
     Production Act of 1950 (50 U.S.C. 4531 et seq.), currently 
     being deployed to support creation of domestic capacity to 
     address those gaps.
       (5) An estimate of the additional capital investment 
     required to build and operate capacity to address those gaps.
       (6) An estimate of the annual funding necessary for the 
     Department of Defense to procure domestically processed heavy 
     rare earths sufficient to meet its annual needs, including 
     consideration of increased investments from private sector 
     capital.
       (7) An estimate of the cost difference between the 
     Department of Defense sourcing rare earths processed in the 
     United States and sourcing rare earths on the open market.
       (8) An identification of how the Department of Defense 
     would direct its weapon suppliers to use the domestically 
     processed heavy rare earths.
       (9) An assessment of what changes, if any, to authorities 
     under title III of the Defense Production Act of 1950 are 
     necessary to enter into a long-term offtake agreement to 
     contract for domestically processed rare earths.
       (10) An assessment of the length of potential contracts 
     necessary for preventing the collapse of domestic processing 
     of rare earths in the case of price fluctuations from 
     increases in the People's Republic of China's export quota.
       (11) Recommendations for international cooperation with 
     allies to jointly reduce dependence on rare earths processed 
     in the People's Republic of China.
       (c) Form of Report.--The report required by subsection (a) 
     shall be submitted in classified form but shall include an 
     unclassified summary.
       (d) Appropriate Committees of Congress Defined.--In this 
     section, the term ``appropriate committees of Congress'' 
     means--
       (1) the Committee on Energy and Natural Resources, the 
     Committee on Armed Services, the Committee on Foreign 
     Relations, and the Committee on Banking, Housing, and Urban 
     Affairs of the Senate; and
       (2) the Committee on Natural Resources, the Committee on 
     Armed Services, the Committee on Foreign Affairs, and the 
     Committee on Financial Services of the House of 
     Representatives.
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