I 
118TH CONGRESS 
2D SESSION H. R. 10261 
To spark a renaissance in American manufacturing through the establishment 
of a American Manufacturing Renaissance Act to develop and monitor 
a national manufacturing strategy, to identify and address supply chain 
weaknesses as well as identify and address obstacles to inclusion and 
align manufacturing with strategic opportunities and imperatives through 
local multi-stakeholder Manufacturing Renaissance Councils, which are 
analogous to the technology hubs established in the Chips and Science 
Act, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 26, 2024 
Ms. SCHAKOWSKY introduced the following bill; which was referred to the 
Committee on Energy and Commerce, and in addition to the Committees 
on Education and the Workforce, Financial Services, and Agriculture, for 
a period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
A BILL 
To spark a renaissance in American manufacturing through 
the establishment of a American Manufacturing Renais-
sance Act to develop and monitor a national manufac-
turing strategy, to identify and address supply chain 
weaknesses as well as identify and address obstacles to 
inclusion and align manufacturing with strategic oppor-
tunities and imperatives through local multi-stakeholder 
Manufacturing Renaissance Councils, which are analo-
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gous to the technology hubs established in the Chips 
and Science Act, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘American Manufacturing Renaissance Act’’. 
(b) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
Sec. 2. Findings; purpose. 
Sec. 3. Establishment of Corporation. 
Sec. 4. Duties and authority of Corporation. 
Sec. 5. Board of Directors. 
Sec. 6. Officers and employees. 
Sec. 7. Reports and audits. 
Sec. 8. Authorization of appropriations. 
Sec. 9. Regulations. 
Sec. 10. Definitions. 
SEC. 2. FINDINGS; PURPOSE. 
The Congress finds the following: 
(1) Crisis in almost every sphere of life is now 
the standard and is exacerbated through inequalities 
that have grown exponentially over the last 40 years 
with the dramatic decline in manufacturing being a 
key contributing factor. 
(2) A manufacturing renaissance is at the heart 
of our ability to strategically and proactively address 
our intersecting crises of racism, climate change, 
and economic inequality. 
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(3) Only a revitalized manufacturing sector can 
create the products, processes, and transition oppor-
tunities that are necessary to address the climate 
crisis, including the strategic development of domes-
tic supply chains that strengthen economic resilience 
to future economic and environmental shocks. Ex-
panding our advanced manufacturing sector is cen-
tral for the march to zero emissions and the de-car-
bonization of our society. 
(4) The goal of revitalization is not to return to 
the type of manufacturing sector we had in the past, 
where workers of color, women, and socially and eco-
nomically disadvantaged individuals were last hired 
and first fired, and where workers and communities 
were excluded from the critical decisions in the pro-
ductive process. 
(5) People who live, work, and play in Amer-
ica’s most polluted environments are commonly peo-
ple of color and the poor. Environmental justice ad-
vocates have shown that this is no accident. Commu-
nities of color, which are often also low-income, are 
routinely targeted to host facilities that have nega-
tive environmental impacts—say, a landfill, dirty in-
dustrial plant, or truck depot. The statistics provide 
clear evidence of what is commonly called ‘‘environ-
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mental racism’’. Communities of color have been 
battling this injustice for decades. If we are to truly 
to ‘‘Build Back Better’’ we must address this envi-
ronmental imbalance with a coherent, inclusive in-
dustrial policy, including providing funding for tran-
sitions for workers and for companies. 
(6) Embracing inclusion and empowerment of 
non-traditional manufacturing populations in all as-
pects of manufacturing is not only a competitive ad-
vantage, but a moral imperative. 
SEC. 3. ESTABLISHMENT OF CORPORATION. 
(a) ESTABLISHMENT.—There is established a Amer-
ican Manufacturing Renaissance Act as a body corporate 
in the Department of Commerce a nonprofit organization 
that shall be responsible for developing and monitoring a 
national manufacturing strategy by overseeing local multi- 
stakeholder Manufacturing Renaissance Councils as well 
as organizations, coalitions, and councils that have the es-
sential features of a Renaissance Council including a mis-
sion focused on sustainable development and inclusion, the 
participation of all the major stakeholders including man-
ufacturers, labor, community-based organizations, edu-
cators, local government, environmental organizations, 
and others. 
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(b) IMPLEMENTATION
AND EXPANSION
OF DEM-
ONSTRATION ACTIVITIES.—The Corporation shall imple-
ment and expand the demonstration activities carried out 
by the Board of Directors through local multi-stakeholder 
Manufacturing Renaissance Councils. 
(c) PRINCIPAL
OFFICE.—The Corporation shall 
maintain its principal office in the District of Columbia 
within the Department of Commerce or at such other 
place the Corporation may from time to time prescribe. 
(d) NONPROFIT NATURE OF CORPORATION.— 
(1) PROHIBITION ON STOCK ISSUANCE OR DIVI-
DEND PAYMENT.—The Corporation may not issue 
any shares of stocks or declare or pay any dividends. 
(2) PROHIBITION ON INCOME AND ASSETS.— 
The income and assets of the Corporation may not 
inure to the benefit of any director, officer, or em-
ployee, except as reasonable compensation for serv-
ices or reimbursement for expenses. 
(3) PROHIBITION
ON
POLITICAL
CONTRIBU-
TIONS.—The Corporation may not contribute to or 
otherwise support any political party or candidate 
for elective public office. 
(e) OPERATIONAL UNITS.—The operational units of 
the Corporation are as follows: 
(1) Applied Research and Technology. 
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(2) Public Outreach and Communication. 
(3) Technical Assistance and Strategic Coordi-
nation. 
(4) Additional units established by a majority 
vote at the discretion of the Board of Directors as 
determined to be necessary. 
SEC. 4. DUTIES AND AUTHORITY OF CORPORATION. 
(a) DUTIES.—The Corporation shall have the fol-
lowing duties: 
(1) Not later than December 21, 2024, and 
every 4 years thereafter, develop a national manu-
facturing strategy for inclusion in the United States. 
(2) Set national strategic objectives for the 
manufacturing industry with an emphasis on equity 
and inclusion for the manufacturing industry, in-
cluding the following: 
(A) Manufacturing representing 20 percent 
of gross domestic product by 2035. 
(B) Net-zero greenhouse gas emissions sec-
tor-wide by 2030. 
(C) Ensuring the diversity of owners in 
manufacturing sectors is representative of the 
relevant local areas by 2030. 
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(D) Balancing geographic diversity, com-
munity stability, and racial equity for locating 
and planning new manufacturing capacity. 
(E) Support the growth of employee own-
ership across the manufacturing sector. 
(F) Closing identified skills gaps in the 
manufacturing sector to zero. 
(3) Review applications for and establish the 
Manufacturing Renaissance Councils (‘‘MRCs’’). 
(4) After receipt of the annual report from the 
MRCs, direct the MRCs to make relevant pro-
grammatic changes in order to better achieve the na-
tional manufacturing strategy. 
(b) MANUFACTURING RENAISSANCE COUNCILS.— 
(1) 
MANUFACTURING
RENAISSANCE
COUN-
CILS.—Not later than 5 years after the date of the 
enactment of this Act, the Corporation shall estab-
lish 30 Manufacturing Renaissance Councils or their 
equivalent through a competitive bid process to carry 
out the national manufacturing strategy. 
(2) MRC DUTIES.—The duties of MRCs are as 
follows: 
(A) Design and implement programs to 
achieve the objectives of the national manufac-
turing strategy, including programs to— 
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(i) conduct or update assessments to 
determine regional manufacturing needs; 
(ii) develop or update goals and strat-
egies to implement an existing comprehen-
sive regional manufacturing plan; 
(iii) facilitate coordinating the activi-
ties of local stakeholders; 
(iv) research as needed to determine 
the use of funds in paragraph (6); and 
(v) evaluate the activities and provide 
an annual report to the Board of Direc-
tors. 
(B) Send annual reports to the Corpora-
tion on the spending and programs of the MRC 
in line with the national manufacturing strat-
egy. 
(3) TECHNICAL
ASSISTANCE
GRANTS.—Not 
later than 60 days after the date of the enactment 
of this Act, the Corporation shall establish a grant 
program to provide technical assistance to applicants 
for the MRC designation under paragraph (1), in-
cluding for assembling and training the consortium 
of stakeholder organizations to develop the applica-
tion to the Corporation. 
(4) GOVERNING BOARD REQUIREMENT.— 
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(A) IN GENERAL.—Each MRC shall have a 
governing board of at least 9 members. The 
board shall be composed of each representation 
of the following: 
(i) Community stakeholder organiza-
tions, including at least one labor union 
representative, workforce training organi-
zations, faith and community-based organi-
zations, and environmental organizations. 
(ii) Institutions of higher education, 
which may include Historically Black Col-
leges and Universities, Tribal Colleges or 
Universities, and Minority-Serving Institu-
tions. 
(iii) Local government. 
(iv) Industry, including manufacturing 
business associations or manufacturing 
companies, a majority of which have 100 
employees or less. 
(v) Economic development organiza-
tions or similar entities focused primarily 
on improving science, technology, innova-
tion, entrepreneurship, or access to capital. 
(B) LEAD CONVENER OF MRC.—The mem-
bers of the governing board described in sub-
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paragraph (A) shall be eligible to serve as the 
lead convener of the MRC, with the following 
responsibilities: 
(i) Submit the bid to establish the 
MRC to the Corporation. 
(ii) Oversee the administration of the 
governance of the MRC. 
(iii) Execute MRC programs, either 
directly or indirectly through subcon-
tracting, abiding by rules and regulations 
governing convening entities as determined 
by the Corporation in the bylaws of the 
Corporation. 
(5) APPLICATION.—An application to be des-
ignated as an MRC shall be assessed by the fol-
lowing criteria: 
(A) The manufacturing community, meas-
ured by the location quotient of manufacturing 
industry above the national average and any 
history manufacturing capacity and availability 
of educational and business resources for ex-
pansion. 
(B) Whether the applicant is located in a 
community of color or serves socially and eco-
nomically disadvantaged individuals (any geo-
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graphically distinct area where the population 
of color of which is higher than the average 
population of color of the State in which the 
community is located). 
(C) Whether the applicant is located in an 
economically distressed community, as meas-
ured by a geographic area whose job growth has 
been less than the eighty percent of the na-
tional rate of growth over the past forty years. 
(D) Additional criteria determined to be 
relevant by the Board of Directors. 
(6) USE
OF
FUNDS.—The Corporation shall 
make grants to MRCs to design and implement the 
following programs: 
(A) ANCHOR
INSTITUTIONS.—Provide a 
program of capacity building and technical as-
sistance to institutions of higher education and 
local government to bring together diverse 
stakeholders who commit sourcing to local com-
panies whenever possible to generate a predict-
able demand for local companies in order to 
create community wealth building strategies. 
(B) EARLY WARNING SYSTEMS.—Proactive 
outreach to companies facing closure risks to 
identify short and long-term technical and fi-
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nancial needs. This outreach would be designed 
to gather public data and information from em-
ployees and service providers to identify prob-
lems that can be solved before they constitute 
a crisis. These activities may include: 
(i) Providing assistance to employers 
in managing reductions in force, which 
may include early identification of firms at 
risk of layoffs, and an assessment of the 
needs of and options for at-risk firms. 
(ii) Funding feasibility studies to de-
termine if the operations of a company 
may be sustained through a buyout or 
other means to avoid or minimize layoffs. 
(iii) Partnering or contracting with 
business-focused organizations to assess 
risks to companies, propose strategies to 
address those risks, implement services, 
and measure impacts of services delivered. 
(iv) Conducting analyses of the sup-
pliers of an affected company to assess 
their risks and vulnerabilities from a po-
tential closing or shift in production of 
their major customer. 
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(v) Engaging in proactive measures to 
identify opportunities for potential eco-
nomic transition in growing industry sec-
tors or expanding businesses. 
(C) OWNERSHIP
SUCCESSION.—Develop 
acquisition and ownership succession strategies 
for firms, firms that are scheduled to be sold or 
relocated, and strategically or geographically 
important firms with a focus on worker owner-
ship, ownership by Black, Indigenous and peo-
ple of color, and women ownership. Such strate-
gies may include the following: 
(i) Technical and business assistance 
to employers facing succession risk and re-
search and market analysis on businesses 
facing succession risk. 
(ii) Recruitment of private investment 
capital and serving as a liaison between 
firms and potential buyers who commit to 
maintain production in the MRC jurisdic-
tion. 
(iii) Training of minority and women 
business entrepreneurs and employee own-
ership groups. 
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(iv) Providing financial assistance for 
employee ownership conversions. 
(D) CAPITAL ACCESS AND ECONOMIC DE-
VELOPMENT.—The MRCs will facilitate the de-
velopment of publicly owned financial institu-
tions, including publicly owned banks, holding 
companies, investment and asset management 
firms, revolving loan funds, and insurance pools 
that share the objectives of the national manu-
facturing strategy to support the growth of a 
robust local manufacturing ecosystem, including 
the following: 
(i) Providing funds for capitalization, 
start-up and operational financing, start- 
up technical and legal assistance and other 
services as needed to create, and others at 
the discretion of the MRC. 
(ii) Working with community develop-
ment financial institutions and other local 
lenders to provide financial products and 
services to small and medium manufactur-
ers, for the purposes of facility develop-
ment, purchase of new equipment and 
technology, and expansion to new markets. 
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(iii) Providing grants and loans for 
commercial real estate development for 
business incubators and industrial parks, 
including expenses for environmental reme-
diation. 
(E) 
EDUCATION
INFRASTRUCTURE
TO 
CLOSE THE SKILLS GAP.—Education programs 
in public prekindergarten, elementary schools, 
and secondary schools that focus on creating 
pathways for people of color, women, and so-
cially and economically disadvantaged individ-
uals in manufacturing preparing for careers at 
all levels with the company, including produc-
tion, engineering, product development, man-
agement, financial management, and ownership. 
Programs must integrate environmental con-
cerns into the curriculum and activities. Ap-
prenticeship programs will be developed to en-
sure an adequate pool of instructors for all as-
pects of the education infrastructure ensuring 
that manufacturing instructors are techno-
logically, culturally, and pedagogically com-
petent. Resources and training for peda-
gogically, culturally, and technologically com-
petent instructors for career education, pre-ap-
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prenticeship, skills training, and community col-
lege programs in local public prekindergarten, 
elementary schools, and secondary schools. 
(F) TRAINING SERVICES.—Workforce pipe-
line activities, developed in coordination with 
each local workforce development board estab-
lished in section 107 of the Workforce Innova-
tion and Opportunity Act (29 U.S.C. 3122), 
that may include any of the following: 
(i) Occupational skills training, in-
cluding training for nontraditional employ-
ment. 
(ii) Programs that combine workplace 
training with related instruction. 
(iii) Skill upgrading and retraining. 
(iv) Entrepreneurial training. 
(v) Adult education and literacy ac-
tivities, including activities of English lan-
guage acquisition and integrated education 
and training programs, provided concur-
rently or in combination with services de-
scribed in any of clauses (i) through (iv). 
(vi) Customized training conducted 
with a commitment by an employer or 
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group of employers to employ targeted 
populations. 
(vii) Paid and unpaid work experi-
ences that have as a component academic 
and occupational education, which may in-
clude— 
(I) summer employment opportu-
nities and other employment opportu-
nities available throughout the school 
year; 
(II) pre-apprenticeship programs; 
(III) internships and job shad-
owing; and 
(IV) youth apprenticeships. 
(viii) Leadership development oppor-
tunities, which may include community 
service and peer-centered activities encour-
aging responsibility and other positive so-
cial and civic behaviors, as appropriate— 
(I) supportive services; and 
(II) adult mentoring. 
(ix) Manufacturing awareness and 
stem 
programs 
targeting 
elementary 
schools and middle schools. 
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(G) 
WRAPAROUND
SERVICES.—Provide 
grants to local governments and community- 
based organizations for supportive services in-
cluding— 
(i) the provision of direct support 
services (such as childcare, transportation, 
mental health, and substance use disorder 
treatment), assistance in obtaining health 
insurance coverage, and assistance in ac-
cessing the supplemental nutrition assist-
ance program established under the Food 
and Nutrition Act of 2008 (7 U.S.C. 2011 
et seq.), the special supplemental nutrition 
program for women, infants, and children 
established by section 17 of the Child Nu-
trition Act of 1966 (42 U.S.C. 1786), 
housing, and other benefits, as appro-
priate; and 
(ii) offering career pathway navigation 
and case management services, including 
providing information and outreach to tar-
get populations to encourage individuals to 
take part in programs and service offer-
ings. 
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(H) 
EQUITY.—Provide 
non-traditional 
manufacturing populations (such as women, 
Black, Indigenous, and Latino entrepreneurs) 
with targeted support through— 
(i) leadership development programs 
including mentoring and affinity groups; 
(ii) curriculum development for diver-
sity, equity, and inclusion trainings; and 
(iii) delivery of free or low-cost equity 
trainings and planning for companies. 
(7) FUNDING AND TECHNICAL ASSISTANCE FOR 
MRCS.—The Corporation shall provide grants and 
technical assistance to MRCs in identifying, moni-
toring, evaluating, and implementing activities that 
show promise towards the goals of the Corporation 
and the national manufacturing strategy, as deter-
mined by the Board. 
(c) GENERAL
ADMINISTRATIVE
AUTHORITY.—To 
carry out the purposes of this Act and engage in the fore-
going activities described in subsection (b), the Corpora-
tion is authorized— 
(1) to adopt, alter, and use a corporate seal; 
(2) to make and perform contracts, agreements, 
and commitments; 
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(3) to sue and be sued, complain and defend, in 
any State, Federal, or other court; 
(4) to determine the necessary expenditures of 
the Corporation and the manner in which those ex-
penditures are incurred, allowed, and paid, and ap-
point, employ, and fix and provide for the compensa-
tion of consultants, without regard to any other law, 
except as provided in section 5(d); 
(5) to settle, adjust, and compromise, and with 
or without compensation or benefit to the Corpora-
tion to release or waive in whole or in part, in ad-
vance or otherwise, any claim, demand, or right of, 
by, or against the Corporation; 
(6) to invest such funds of the Corporation in 
such investments as the Board of Directors may pre-
scribe by majority vote; 
(7) to acquire, take, hold, and own, and to deal 
with and dispose of any property; and 
(8) to exercise all other powers that are nec-
essary and proper to carry out the purposes of this 
Act. 
SEC. 5. BOARD OF DIRECTORS. 
(a) MEMBERSHIP.—The Corporation shall be under 
the direction of a Board of Directors composed of the fol-
lowing directors: 
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(1) A Chief Manufacturing Officer, appointed 
by the President, by and with the advice and consent 
of the Senate. 
(2) The Secretary of Commerce, or an ap-
pointee of the Secretary. 
(3) The Secretary of Labor, or an appointee of 
the Secretary. 
(4) The Secretary of Education, or an ap-
pointee of the Secretary. 
(5) The Secretary of Energy, or an appointee of 
the Secretary. 
(6) The Secretary of the Treasury, or an ap-
pointee of the Secretary. 
(7) The National Climate Advisor, or an ap-
pointee of the Advisor. 
(8) National Science Foundation Director, or 
an appointee of the Director. 
(9) A manufacturing labor representative who 
within the past five years served in elected leader-
ship of a national or regional labor union or federa-
tion, appointed by the President. 
(10) A representative who is a prekindergarten, 
elementary school, or secondary school educator or 
who within the past 5 years served in elected leader-
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ship of a labor union, association, or federation for 
educators, appointed by the President. 
(11) A employee-owner representative who with-
in the past five years served in elected leadership of 
an employee-owned manufacturing firm, appointed 
by the President. 
(12) A manufacturing business representative 
who within the past five years served in a voluntary 
leadership position in a manufacturing business as-
sociation, appointed by the President. 
(13) A faith representative who within the past 
five years served in a voluntary leadership position 
in a national or regional faith-based community de-
velopment association, appointed by the President. 
(14) A racial justice representative who within 
the past five years served in a voluntary leadership 
position in a nonprofit organization that develops 
strategies toward Black, Latino, Asian-American, or 
Indigenous advancement, appointed by the Presi-
dent. 
(15) An environmental representative who with-
in the past five years served in a voluntary leader-
ship position in a nonprofit organization that devel-
ops strategies towards addressing the climate crisis, 
appointed by the President. 
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(16) The Director of the Domestic Policy Coun-
cil, or an appointee. 
(b) CHAIR OF THE BOARD.—The Board shall elect 
a Chair of the Board from the directors who shall serve 
for a term of 2 years, except that the Secretary of Com-
merce shall serve as Chair of the Board for the first 2- 
year term. 
(c) TERMS OF OFFICE.—Each director of the Cor-
poration shall serve at the pleasure of the President. 
(d) COMPENSATION AND EXPENSES.—The directors 
of the Corporation, as officers of the United States, shall 
serve without additional compensation but shall be reim-
bursed for travel, subsistence, and other necessary ex-
penses incurred in the performance of the duties as direc-
tors of the Corporation. 
(e) QUORUM.—The presence of a majority of the 
Board of Directors or a representative shall constitute a 
quorum. 
SEC. 6. OFFICERS AND EMPLOYEES. 
(a) APPOINTMENT OF EXECUTIVE DIRECTOR.—The 
Board of Directors shall appoint an executive director who 
shall serve as chief executive officer of the Corporation. 
(b) APPOINTMENT AND REMOVAL OF EMPLOYEES BY 
EXECUTIVE DIRECTOR.—The executive director of the 
Corporation, subject to approval by the Board, may ap-
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point and remove such employees of the Corporation as 
the executive director determines necessary to carry out 
the purposes of the Corporation. 
(c) PROHIBITION OF POLITICAL TESTS AND QUALI-
FICATIONS IN SELECTION OF PERSONNEL.—A political 
test and political qualification may not be used in select-
ing, appointing, promoting, or taking any other personnel 
action with respect to any officer, agent, or employee of 
the Corporation or of any recipient, or in selecting or mon-
itoring any grantee, contractor, or person or entity receiv-
ing financial assistance under this Act. 
(d) EMPLOYEE STATUS; APPLICABILITY OF ADMINIS-
TRATIVE AND COST STANDARDS OF OFFICE OF MANAGE-
MENT AND BUDGET.—Officers and employees of the Cor-
poration shall not be considered officers or employees of 
the United States, and the Corporation shall not be con-
sidered a department, agency, or instrumentality of the 
Federal Government. The Corporation shall be subject to 
administrative and cost standards issued by the Office of 
Management and Budget similar to standards applicable 
to non-profit grantees. 
(e) ADVISORY COMMITTEE.—The Corporation shall 
be supported by an advisory committee established by the 
Board of Directors, consisting of academic and industry 
experts, public administrators, local community stake-
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holders, and others at the discretion of the Board of Direc-
tors. 
(f) NATIONAL ADVISORY COUNCIL.—Each local MRC 
shall select three representatives of the local MRC, includ-
ing a representative of a company with less than 100 em-
ployees, a representative of the labor movement, and a 
representative of a community based organization to serve 
on a national advisory council that shall advise the Cor-
poration. Any representative shall— 
(1) be an active member in MRC work; 
(2) be a leader active in promoting and building 
the partnerships with labor, manufacturers, govern-
ment, and environmental, and community organiza-
tions. and work of the MRC; and 
(3) commit to participate in 2 national meet-
ings of the advisory council annually and participate 
in company, union, or community-based organization 
subcommittees. 
SEC. 7. REPORTS AND AUDITS. 
(a) ANNUAL REPORT
TO PRESIDENT
AND CON-
GRESS.—Not later than March 1 of each year, the execu-
tive director of the Corporation shall publish and submit 
to the President and Congress an annual report that con-
tains the following: 
(1) The national manufacturing strategy. 
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(2) The activities being carried out by the Cor-
poration and local Manufacturing Renaissance Coun-
cils. 
(3) A statement of financial position and the 
use of appropriated funds by the Corporation. 
(b) ANNUAL AUDIT OF ACCOUNTS.—The accounts of 
the Corporation shall be audited annually. Such audits 
shall be conducted in accordance with generally accepted 
auditing standards by independent certified public ac-
countants who are certified by a regulatory authority of 
the jurisdiction in which the audit is undertaken. 
(c) GAO AUDIT.—The Government Accountability 
Office may audit the financial transactions of the Corpora-
tion for any fiscal year in which Federal funds are made 
available to the Corporation in accordance with such rules 
and regulations as may be prescribed by the Comptroller 
General of the United States. 
(d) AUDIT OF GRANTEES AND CONTRACTORS OF 
CORPORATION.—For any fiscal year in which Federal 
funds are made available to finance any portion of grant 
or contract made by the Corporation, the Government Ac-
countability Office, in accordance with such rules and reg-
ulations as may be prescribed by the Comptroller General 
of the United States, may audit the grantees or contrac-
tors of the Corporation. 
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(e) ANNUAL FINANCIAL AUDIT.—The Corporation 
shall conduct or require each grantee or contractor to pro-
vide for an annual financial audit. The report of each such 
audit shall be maintained for a period of at least five years 
at the principal office of the Corporation. 
SEC. 8. AUTHORIZATION OF APPROPRIATIONS. 
(a) AUTHORIZATION.— 
(1) IN GENERAL.—There is authorized to be 
appropriated to the Corporation to carry out this 
Act the following: 
(A) $4,000,000,000 for fiscal year 2026. 
(B) $4,000,000,000 for fiscal year 2027. 
(C) $4,000,000,000 for fiscal year 2028. 
(2) ADMINISTRATIVE
EXPENSE
LIMIT.—Not 
more than 15 percent of any amount authorized to 
be appropriated under paragraph (1) for any fiscal 
year may be used for administrative expenses. 
(3) GRANTS
AND
TRAINING
FUNDS.—Of the 
amounts authorized to be appropriated under this 
subsection for any fiscal year, amounts appropriated 
in excess of the amount necessary to continue exist-
ing services of the Corporation in revitalizing and re-
investing in manufacturing shall be available— 
(A) to make grants under section 4(b)(3); 
and 
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