The U.S. Senate Committee on Banking, Housing and Urban Affairs published a release on the introduction of the Make More in America Act, a bill that would broaden the mission, tools and investment capacity of the Export-Import Bank of the United States to support domestic manufacturing in strategic sectors. The proposal is aimed at reducing U.S. dependence on foreign supply chains, particularly China, by enabling EXIM to partner with the private sector to expand production capacity at home in areas including semiconductors, artificial intelligence, critical minerals, quantum technology, biotechnology, energy technology, robotics and shipbuilding. Under the bill, EXIM could support the construction or expansion of manufacturing facilities in the United States so that more critical technologies are produced domestically. Supported projects would need to demonstrate benefits for American jobs, pay prevailing wages for construction, protect existing collective bargaining agreements, remain neutral in union organizing, and include workforce training and education commitments. More favorable terms would be available for projects in economically distressed communities and for those creating higher-wage jobs. The proposal also includes restrictions intended to limit misuse of public funds, including bans on using support for stock buybacks or repayment of pre-existing debt, clawbacks if projects are not completed on time or fail to meet labor requirements, and prohibitions on support for senior executive branch officials, members of Congress and their immediate families. The release also says the bill would expand government-wide tools and capacity to strengthen domestic manufacturing.

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