American Innovation and Manufacturing Act

The American Innovation and Manufacturing Act establishes a Small Business and Domestic Production Recovery Investment Facility to support small manufacturing businesses with North American Industry Classification System codes beginning with 31, 32, or 33. The facility will provide financial assistance to participating investment companies that facilitate equity financing for eligible small manufacturers, with $10 billion authorized for the first fiscal year. Participating investment companies must invest at least 50% of their funds in eligible small businesses and share profits with the Administration, with bonds having a 15-year term at 2% interest. The program includes specific provisions for bond terms, profit sharing, and requirements for participating investment companies to ensure capital flows to domestic manufacturing. The goal is to strengthen domestic manufacturing supply chains by increasing access to capital for small manufacturing businesses.