Ro Khanna (D-CA)
Industrial Bank for American Manufacturing Act of 2026
A Democratic bill with 2 Democratic cosponsors · See all 2 cosponsors
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The Industrial Bank for American Manufacturing Act of 2026 establishes a fund within the Department of Commerce to support U.S. manufacturing. The fund is financed by up to $15,000,000,000 annually, derived largely from tariffs on articles from the People's Republic of China. The Secretary of Commerce can use these funds to provide loans, equity investments, or grants to manufacturers to expand or modernize critical and emerging technologies. To receive assistance, manufacturers must meet specific eligibility and labor requirements, including prevailing wage and apprenticeship mandates. The program aims to bolster national security and industrial capacity through strategic investments. The authority to obligate these funds terminates 10 years after the Act's enactment.
Yes· 3 of 13
- Scored +7
Does this make it easier to run a small business?
The bill sets aside 10 percent of the total annual fund specifically for small business manufacturers.
- Scored +6
Is this likely to create jobs?
The fund provides capital specifically to help manufacturers expand operations and modernize technologies.
- Scored +5
Does this strengthen the rights of workers to organise?
The bill mandates prevailing wages and apprenticeship requirements for construction and repair work.
The opposite
- Scored -2
Does this raise the taxes companies pay?
The bill relies on revenue from tariffs which can function as an indirect tax on imported goods used by companies.
- Scored -1
Does this make college cost less?
The bill focuses on vocational and on-the-job training rather than higher education affordability.
- Scored -1
Does this increase the pay, pensions or support veterans receive?
The bill does not directly provide benefits to veterans, though it focuses on industrial security.
Who it would affect, and how
Potential Positive Impacts for People
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Support for Technological Expansion: The Secretary of Commerce can provide direct loans, equity investments, or grants to help manufacturers expand and modernize operations related to critical and emerging technologies (Section 2(c)).
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Job Training and Employment: Manufacturers receiving assistance must spend at least 1 percent of the award on employment and training activities, such as occupational skills or on-the-job training (Section 3(b)(3)).
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Support for Local Workers: Manufacturers are required to spend at least 0.5 percent of the award on supportive services for their employees (Section 3(b)(4)).
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Wage Protections: The bill requires that laborers and mechanics involved in the construction, alteration, or repair of qualified facilities be paid wages at rates not less than the prevailing rates for their locality (Section 4(a)(1)).
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Apprenticeship Opportunities: The act mandates that a specific percentage of total labor hours for facility construction be performed by qualified apprentices (Section 4(b)(1)).
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Prioritization of Struggling Areas: The Secretary is directed to prioritize awards to manufacturers located in areas that have experienced at least a 25 percent reduction in manufacturing employment between 2000 and 2023 (Section 3(d)(1)(C)).
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Support for Small Businesses: The bill sets aside 10 percent of the total annual fund for covered manufacturers that are small business concerns (Section 3(d)(2)).
Potential Negative Impacts for People
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Financial Penalties for Labor Violations: Manufacturers that fail to meet prevailing wage requirements must pay the difference in wages plus a penalty of $5,000 per laborer or mechanic, which increases to $10,000 for intentional disregard (Section 4(a)(2)).
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Apprenticeship Penalties: Manufacturers that fail to meet apprenticeship labor hour requirements may be required to pay a penalty of $50 per labor hour, which increases to $500 for intentional disregard (Section 4(b)(1) and (4)(C)).
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Strict Eligibility Requirements: To be eligible, manufacturers must certify they have no outstanding tax liabilities, pending civil or criminal actions, or disputes under adjudication by the National Labor Relations Board (Section 3(a)(1)).
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Limitations on Use of Funds: Manufacturers receiving assistance are prohibited from using those funds to pay dividends or repurchase shares of their own company (Section 3(b)(1)(A)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this make it easier to run a small business? — The bill sets aside 10 percent of the total annual fund specifically for small business manufacturers. Is this likely to create jobs? — The fund provides capital specifically to help manufacturers expand operations and modernize technologies. Is this likely to grow the economy? — The act invests $15 billion annually into the domestic manufacturing sector to bolster industrial capacity. Does this strengthen the rights of workers to organise? — The bill mandates prevailing wages and apprenticeship requirements for construction and repair work. Does this raise the taxes companies pay? — The bill relies on revenue from tariffs which can function as an indirect tax on imported goods used by companies.
- Demographic And Interest Groups
- Would business owners be better off under this? — Manufacturers can access substantial direct loans, equity investments, or grants to grow their businesses. Would union members be better off under this? — The bill enforces prevailing wage requirements and encourages apprenticeship programs. Would people in their twenties and thirties be better off under this? — The mandate for apprentice labor hours provides significant entry-level opportunities for young workers. Would households on low incomes be better off under this? — The bill funds employment, training, and supportive services for industrial workers. Would people in rural areas be better off under this? — The bill prioritizes awards for manufacturers in areas that have experienced significant declines in manufacturing employment.
- Education And Technology
- Does this put more money into scientific research? — The fund supports the expansion and commercialization of critical and emerging technologies. Does this make college cost less? — The bill focuses on vocational and on-the-job training rather than higher education affordability.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill requires the creation of a public, searchable website to disclose award details and job impact.
- Environment Energy And Infrastructure
- Does this cut the pollution that drives climate change? — The bill prioritizes awards to manufacturers that demonstrate expected reductions in greenhouse gas intensity.
- Social Issues And Justice
- Is this likely to lift people out of poverty? — The bill mandates investments in employment, training, and supportive services for workers.
- National Security And Foreign Policy
- Does this increase the pay, pensions or support veterans receive? — The bill does not directly provide benefits to veterans, though it focuses on industrial security.
- 7/23/2026
- Referred to the House Committee on Financial Services.
- 2 Cosponsors added.
- Introduced in House
Debbie DingellDemocrat · Michigan
Thomas SuozziDemocrat · New York