‘Subpoena Season’: Democrats Set Their Sights on $40B in Mining Deals - MP Materials (NYSE:MP), Global X…

Benzinga · Stjepan Kalinic · 2026-11-06 11:11 UTC

Democratic midterm wins shift U.S. critical minerals policy to Congress, bringing subpoena threats and high-stakes budget fights.

The Democratic midterm sweep has moved the U.S. critical minerals trade out of the White House, where deals were struck quickly, and into Congress. The next fight will be on the legislative battleground.

According to The Oregon Group, tariffs, stockpiles, and government equity stakes are mostly executive actions. Congress can’t overturn them unless it beats a presidential veto. What the new Congress does get is subpoena power and leverage over the budget.

That situation leaves investors with a question: will lawmakers clear the permitting backlog, or will gridlock stall the supply chain?

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