Industrial Bank for American Manufacturing Act of 2026

This bill establishes the Industrial Bank for American Manufacturing, a Treasury fund that can receive up to $15 billion annually from tariffs on goods from China and future congressional appropriations. The Secretary of Commerce is authorized to use these funds to provide loans, equity investments, or grants to U.S.-based manufacturers working in industries deemed critical for national security or supply chain resilience. To qualify, manufacturers must certify they have no tax liabilities or ties to prohibited foreign entities and agree to specific conditions, such as paying prevailing wages, hiring apprentices, and using funds only for domestic operations. The legislation also sets a $500 million cap on individual awards, requires public reporting on all grants, and limits the program's authority to ten years.