The Pentagon’s Office of Strategic Capital would have a dedicated account for making equity investments under the annual $1.15 trillion defense authorization measure filed Tuesday by the Senate Armed Services Committee.
The bill would authorize an initial $250 million in fiscal 2027 for the new OSC account, which congressional appropriators would still have to approve. The director could only use money in the fund to finance critical minerals, materials, chemicals and batteries, according to the text of the authorization measure.
The top Senate panel’s decision on the government taking equity stakes in companies underscores that lawmakers from both parties are ...