Establishes the American Manufacturing Renaissance Act to revitalize American manufacturing.
Aims to develop and monitor a national manufacturing strategy.
Focuses on identifying and addressing supply chain weaknesses and obstacles to inclusion.
Proposes the creation of local multi-stakeholder Manufacturing Renaissance Councils (MRCs) to align manufacturing with strategic opportunities.
Emphasizes the importance of equity and inclusion in the manufacturing sector.
Mandates the Corporation to develop a national manufacturing strategy every four years, with specific goals for manufacturing’s contribution to GDP, greenhouse gas emissions, and diversity in ownership.
Requires the establishment of 30 MRCs within five years to implement the national manufacturing strategy.
MRCs will design and implement programs to assess regional manufacturing needs, coordinate local stakeholders, and evaluate activities.
Provides for technical assistance grants to support MRC applicants.
Outlines the composition and responsibilities of MRC governing boards, ensuring representation from various community stakeholders.
Authorizes the Corporation to make grants to MRCs for various programs, including capacity building, early warning systems for at-risk companies, ownership succession strategies, and education infrastructure to close skills gaps.
Establishes a Board of Directors to oversee the Corporation, including representatives from various sectors and appointed by the President.
Requires annual reports to Congress and the President detailing the national manufacturing strategy and financial position.
Authorizes appropriations of $4 billion for fiscal years 2026-2028, with limits on administrative expenses.
Mandates the development of proposed and final regulations for implementation within specified timeframes.
Defines key terms related to the Act, including “anchor institution,” “Manufacturing Renaissance Council,” and “national manufacturing strategy.”
