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New Industrial Finance Corporation: Strengthening US Manufacturing and Supply Chains

This act establishes a new government agency, the Industrial Finance Corporation of the United States, aimed at supporting critical US industries. Its purpose is to strengthen domestic production, ensure stable supply chains, and create jobs, especially in innovative and strategically important sectors for national security. Citizens may experience the impact through increased product availability, more stable prices, and new employment opportunities.
Key points
A new government agency will invest in US companies to strengthen manufacturing and reduce reliance on foreign suppliers in key sectors.
Financial support will target companies developing new technologies, advancing critical industries, and contributing to national security.
The act aims to create well-paying jobs in the US, particularly in manufacturing, and support small and medium-sized businesses, including those in underserved regions.
Control and transparency mechanisms, including public reports and audits, will be implemented to ensure efficient use of funds and minimize taxpayer risk.
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Additional Information
Print number: 117_S_2662
Sponsor: Sen. Coons, Christopher A. [D-DE]
Process start date: 2021-08-05
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Industrial Finance Corporation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2662.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-08-05.

What are the main provisions?

Key points include:

  • A new government agency will invest in US companies to strengthen manufacturing and reduce reliance on foreign suppliers in key sectors.
  • Financial support will target companies developing new technologies, advancing critical industries, and contributing to national security.
  • The act aims to create well-paying jobs in the US, particularly in manufacturing, and support small and medium-sized businesses, including those in underserved regions.
  • Control and transparency mechanisms, including public reports and audits, will be implemented to ensure efficient use of funds and minimize taxpayer risk.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Coons, Christopher A. [D-DE].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Public Investments Security