Industrial Bank for American Manufacturing Act of 2026

This bill would create a fund in the U.S. Treasury called the Industrial Bank for American Manufacturing, run by the Secretary of Commerce. Each year the fund could receive up to $15 billion, drawn from half of the tariff revenue collected on goods from China under section 301 of the Trade Act of 1974, plus any amounts Congress appropriates. The money could be used for loans, equity investments, or grants of up to $500 million each to U.S.-based manufacturers in supply chain industries or critical and emerging technologies. Recipients would have to meet conditions such as not using the money for stock buybacks or dividends, paying prevailing wages, using apprentices, and spending part of the award on worker training. The fund's authority to make new awards would end after 10 years, and the Secretary would report to Congress and post award details on a public website.

Full text and official record on Congress.gov

Sponsors

• Ro Khanna Democrat sponsor
• 2 cosponsors