To amend title 18, United States Code, to prohibit the trafficking in catalytic converters.

HR9904 is a criminal justice bill targeting the theft and trafficking of catalytic converters, which contain precious metals like platinum, palladium, and rhodium. The bill was introduced on 2026-07-23 and referred to the House Judiciary Committee. With 13 cosponsors, including bipartisan representation from Texas and California, the bill has moderate initial support but remains in early procedural stages. No funding is authorized or appropriated; the bill solely creates a federal criminal prohibition. The primary economic effect would be on the black market for stolen catalytic converters, potentially reducing theft-related losses for auto manufacturers and repair shops. However, the bill does not directly regulate or impact any publicly traded company's revenue streams. Companies involved in precious metals recycling, such as $NEM (Newmont) or $FCX (Freeport-McMoRan), are not directly affected since the bill targets trafficking, not legitimate recycling. The legislative path requires committee markup, House floor vote, Senate passage, and presidential action—a process unlikely to conclude quickly. Given the early stage and lack of direct market mechanism, the impact on retail investors is negligible.