Providing for consideration of the Senate amendments to the bill (H.R. 7148) making further consolidated appropriations for the fiscal year ending September 30, 2026, and for other purposes; providing for consideration of the joint resolution (H.J. Res. 142) disapproving the action of the District of Columbia Council in approving the D.C. Income and Franchise Tax Conformity and Revision Temporary Amendment Act of 2025; and providing for consideration of the bill (H.R. 4090) to codify certain provisions of certain Executive Orders relating to domestic mining and hardrock mineral resources, and for other purposes.

H. Res. 1032 passed the House on February 3, 2026, by a recorded vote of 217-215, and its motion to reconsider was laid on the table. This resolution is a procedural measure that allows for the consideration of several legislative items, including H.R. 4090, the 'Critical Mineral Dominance Act.' H.R. 4090 seeks to codify certain provisions of Executive Orders related to domestic mining and hardrock mineral resources. The resolution waived points of order against consideration of H.R. 4090, and the amendment in the nature of a substitute recommended by the Committee on Natural Resources was considered adopted. H.R. 4090, as enabled by H. Res. 1032, does not directly appropriate funds. Instead, it aims to codify existing executive orders, which provides a more permanent and stable regulatory framework for the domestic mining industry. This codification is a form of regulatory relief and certainty, which can reduce operational risks and encourage investment in U.S. mining projects. The mechanism is through policy establishment rather than direct financial allocation, creating a more predictable environment for long-term capital deployment in the sector. Structural beneficiaries of this legislative action include companies with significant U.S. mining operations or those looking to expand within the U.S. Freeport-McMoRan ($FCX), with its substantial copper and gold operations in the U.S., is directly positioned to benefit from increased regulatory certainty. Other global mining giants like Rio Tinto ($RIO), BHP Group ($BHP), and Vale S.A. ($VALE), which have or could expand U.S. hardrock mineral interests, also stand to gain. The codification of these executive orders reduces the risk of policy reversals, making long-term investments in domestic mining more attractive. Market data shows that mining companies have reacted positively in the short term. Freeport-McMoRan ($FCX) has a current price of $61.05 and a 7-day change of +11.71%. Rio Tinto ($RIO) is at $94.01 with a +5.84% 7-day change. BHP Group ($BHP) stands at $72.79 with a +5.46% 7-day change, and Vale S.A. ($VALE) is at $16.14 with a +6.89% 7-day change. These positive movements occurred despite mixed 30-day performance for some, indicating a recent surge in optimism following the legislative development. H.R. 4090 has been received in the Senate and referred to the Committee on Energy and Natural Resources, indicating further legislative steps are required for its final passage. The next legislative step for H.R. 4090 is consideration by the Senate Committee on Energy and Natural Resources, followed by potential floor votes in the Senate and reconciliation with the House version if amendments are made. The bill's progress through the House, facilitated by H. Res. 1032, suggests momentum for policies supporting domestic mineral production.