To establish a program in the Department of Commerce to support expansion, modernization, and other improvements to critical and emerging technologies operations within the United States, and for other purposes.

Sponsor: Ro Khanna (Democratic-CA)July 23, 2026

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

Referred to the House Committee on Financial Services.

Creates a new fund to help U.S. factories expand and make advanced technologies.

This bill would create a special fund within the Department of Commerce, called the "Industrial Bank for American Manufacturing." This fund would offer loans, investments, and grants to U.S. factories. These funds would help them grow, modernize, and produce important new technologies, aiming to boost American production and jobs, especially in areas that have lost manufacturing work.

What Would Change

Currently, there isn't a dedicated federal fund specifically designed to provide direct loans, equity investments, and grants to U.S. manufacturers for expanding critical technology production. If this bill becomes law, a new fund would be established, offering significant financial support to eligible U.S. factories. This would come with requirements for worker wages, training, and apprenticeships, and a focus on domestic production and economic security.

Key Provisions

Creates a new fund called the "Industrial Bank for American Manufacturing" to support U.S. factories.
Sets aside up to $15 billion each year for the fund, with half coming from tariffs on goods from China.
Lets the Secretary of Commerce offer direct loans, equity investments, or grants up to $500 million to U.S. manufacturers.
Requires manufacturers receiving aid to pay workers prevailing wages and use apprentices for construction.
Requires manufacturers to spend at least 1% of the award on employee training and 0.5% on supportive services for employees.
Prioritizes funding for manufacturers that reduce pollution, improve efficiency, are in areas with job losses, or commit to U.S. sourcing.

View on Congress.gov

HR 9912 · 119th Congress · July 23, 2026 · AI Summary by gemini-2.5-flash · 8/10

To establish a program in the Department of Commerce to support expansion, modernization, and other improvements to critical and emerging technologies operations within the United States, and for other purposes.

What Would Change

Key Provisions

Lobbying Activity