Congress creates automatic tariff fund, bypassing annual budget votes
H.R. 6696 — Restoring American Mineral Security Act of 2025 · Filed by Jimmy Panetta (D-CA) · 3 cosponsors · Introduced Dec 12, 2025 · Referred to committee
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What it does
This bill creates a 'Critical Minerals Security Alliance' to reduce U.S. dependence on China for critical minerals (like lithium, cobalt, rare earths) used in defense, manufacturing, and energy. It authorizes the U.S. Trade Representative to negotiate agreements with allied countries that agree to impose tariffs on Chinese minerals and mineral products, eliminate tariffs among alliance members, and screen foreign investments. Once an alliance country is admitted, U.S. tariffs on Chinese critical minerals take effect, and a trust fund—fed by tariff revenue—is created to finance domestic mining, processing, and manufacturing projects (60% to Energy Department, 20% to Defense, 20% to international development finance).
Why we flagged it
The bill's core function is to establish a negotiated trade alliance with tariff coordination against China and a revenue-funded domestic minerals development program. It is fundamentally a trade and industrial policy instrument, not a simple tariff or subsidy bill.
What the text implies
- Tariff revenue trust fund is automatic and not subject to annual appropriation, creating a permanent revenue stream for DOE/DOD projects without traditional budget oversight.
- Alliance eligibility criteria require partner countries to match U.S. tariff rates on Chinese minerals, potentially forcing allied nations into a coordinated tariff regime that may violate WTO rules or existing trade agreements.
The full analysis lists 5 implications of this text.
Who stands to gain
domestic mining companies; mineral processing firms; battery and EV manufacturers (if tariff exemptions apply)