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Support for US Energy Grid Component Manufacturing

This act establishes a loan program of up to $8 billion to help US companies manufacture critical energy grid components. The goal is to enhance national energy security and create new jobs, particularly within small businesses. Citizens may experience more stable energy supplies and new employment opportunities.
Key points
Up to $8 billion in loans available for companies manufacturing energy grid components in the US.
Support for establishing new facilities or expanding existing ones, potentially increasing job opportunities.
Priority given to manufacturers expanding output or reopening facilities.
At least 5% of funds are set aside for small firms with fewer than 500 employees.
Requirement for contractors and subcontractors to pay prevailing wages for similar work in the locality.
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Status:
Expired
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Additional Information
Print number: 117_S_4626
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2022-07-27