Unearth America’s Future Act
Summary
The Unearth America's Future Act aims to bolster the United States' critical material supply chain through various measures. These include establishing a loan program, providing tax credits for critical material facilities and production, and authorizing research and development activities. The goal is to secure domestic and foreign capabilities in manufacturing critical materials, reducing reliance on potentially unreliable sources.
Expected Effects
The act is likely to stimulate domestic manufacturing of critical materials by providing financial incentives and support. It could also lead to increased research and development in related technologies and techniques. The establishment of a national center and public-private partnership aims to foster collaboration and innovation in the critical material supply chain.
Potential Benefits
- Enhanced national security by reducing dependence on foreign sources for critical materials.
- Increased domestic job creation in manufacturing, research, and development related to critical materials.
- Promotion of environmental sustainability through the adoption of cleaner extraction and production practices.
- Support for innovation in critical material technologies and techniques.
- Strengthening of economic competitiveness by securing access to essential materials for various industries.
Potential Disadvantages
- Potential for increased government debt due to loan programs and tax credits.
- Risk of inefficient allocation of resources if loan recipients are not carefully vetted.
- Possible negative environmental impacts from increased mining and manufacturing activities if not properly regulated.
- Potential for trade disputes with countries that currently supply critical materials.
- The act's focus on specific materials might lead to neglect of other important sectors.
Most Disadvantaged Areas:
Constitutional Alignment
The Unearth America's Future Act appears to align with the Constitution's broad objectives of promoting the general welfare and providing for the common defense, as stated in the Preamble. Congress's power to regulate commerce (Article I, Section 8, Clause 3) provides a basis for measures aimed at securing the supply chain of critical materials. The Act also aligns with Congress's power to tax and spend for the general welfare (Article I, Section 8, Clause 1).
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).