US HB7644

Amends the Millennium Challenge Act of 2003 to add U.S. economic security and strategic competitiveness as a formal purpose of the Millennium Challenge Corporation (MCC), alongside poverty reduction and economic growth

Establishes a Critical Minerals Task Force within MCC to assess supply chain vulnerabilities, identify partner countries for mineral development, and recommend policy reforms—while explicitly prohibiting MCC from engaging in extractive activities or subsidizing mineral production

Creates a "Great Power Competition Factsheet" requiring MCC's Board to assess candidate countries' strategic exposure to China, Russia, and Iran, including trade dependencies, foreign investment from those nations, state-owned enterprise activity, and control of strategic infrastructure

Requires early engagement with U.S. private sector entities during Compact project design to mobilize private capital and improve project sustainability, and mandates timely completion of due diligence with periodic Board and congressional updates on implementation status

Adds a complementary reporting framework to assess U.S. benefits from Compacts, including critical supply chain diversification, U.S. company participation, reduced recipient-country exposure to strategic competitors, and strengthened diplomatic partnerships