Sponsor
Chris Deluzio
Representative · D-PA
Representative · D-PA
The bill channels substantial public money and dedicated revenues into a federal Manufacturing Sovereign Wealth Fund to rebuild U.S. manufacturing, create jobs, and strengthen supply chains — but it does so with higher taxes/fees, tighter rules and compliance costs, concentrated federal control, and meaningful financial risk to taxpayers.
Millions of Americans (workers, manufacturers, and communities) gain access to a large, near-term pool of funding ($255 billion) to build domestic manufacturing capacity, infrastructure, and jobs.
U.S. supply chains and strategic sectors are strengthened through targeted investments, golden-share protections, and limits on outbound technology transfers, reducing reliance on adversary suppliers and improving national security.
Low- and middle-income households receive refundable Build America dividend payments, providing recurring direct cash support and increasing household income for many families.
The $255 billion appropriation, new fees, and a corporate tax increase could raise federal spending, increase the deficit or taxes, and put upward pressure on prices for consumers and businesses.
Taxpayers bear financial risk if Fund investments lose money or require government backstops, and congressional control is reduced because the Fund can spend earnings without further appropriation.
Stringent recipient conditions (50‑year domestic commitments, golden-share vetoes, limits on IP transfers, bans on buybacks/dividends, profit-sharing, and bankruptcy controls) could deter private and foreign investment, complicate capital raises, mergers, and commercial partnerships.
Based on analysis of 8 sections of legislative text.
Establishes a $255B Manufacturing Sovereign Wealth Fund to invest in U.S. advanced manufacturing, backed by appropriations, trade remedy duties, and fees, with oversight, golden‑share controls, and a later refundable tax credit.
Official title: To establish the Manufacturing Sovereign Wealth Fund, and for other purposes.
Introduced July 27, 2026 by Chris Deluzio · Last progress July 27, 2026
Creates a federally capitalized Manufacturing Sovereign Wealth Fund (the Fund) with $255 billion in staged appropriations and other dedicated revenue to invest in advanced manufacturing, supply‑chain resiliency, innovation, regional industrial capacity, workforce development, and related objectives. The Fund is governed by a presidentially appointed, Senate‑confirmed Board of Governors with detailed ethics, transparency, oversight, and authorities to make equity investments, loans, and guarantees and to impose continuing conditions (including “golden share” veto powers) on recipients. Establishes an Industrial Sovereignty Council in the White House to align investments with a 5‑year Industrial Sovereignty Strategy, creates reporting, Inspector General and GAO audit requirements, provides whistleblower protections, and authorizes a refundable “Build America dividend” tax credit indexed to a share of Fund proceeds (effective for taxable years beginning after Sept. 30, 2032). The Fund sunsets its active investment authority after 10 years and must liquidate thereafter, transferring residual resources to Commerce for manufacturing programs while requiring prevailing wages on construction work funded by transferred amounts.