Industrial Bank for American Manufacturing Act of 2026

Key Points

• The bill creates a new $15 billion-per-year fund at the Treasury, run by the Commerce Department, to finance American manufacturers without needing yearly congressional appropriations.
• Half of the money comes from tariffs the U.S. already collects on Chinese imports, tying the fund's size directly to trade revenue from China.
• Manufacturers can get loans, equity investments, or grants of up to $500 million each to modernize operations tied to national security or critical and emerging technologies.
• Companies that take the money must pay prevailing local wages on construction, hire a rising share of registered apprentices, and spend at least 1.5% of the award on worker training and support services.
• Recipients are barred from using the funds for stock buybacks or dividends, moving funded operations or technology to China or similar countries, or partnering with prohibited foreign entities.
• The fund automatically ends 10 years after it becomes law, with any unused money permanently returned rather than staying available, and every award must be posted on a public, searchable website.