National Development Strategy: Strengthening US Manufacturing and Supply Chains
This law establishes a coordinated federal strategy to bolster US manufacturing, critical supply chains, and innovation. It creates an interagency committee to direct public investments, including $20 billion authorized for the Federal Financing Bank, toward projects that create domestic jobs and reduce reliance on foreign adversaries. Strict prohibitions are put in place against funding entities linked to countries deemed national security threats, thereby protecting intellectual property and economic security.
Key points
Creation of a National Development Strategy to guide where and how public funds should be invested to strengthen the economy and national security, focusing specifically on supply chain vulnerabilities.
Authorization of $20 billion ($5 billion annually for 4 years) for the Federal Financing Bank to support projects in critical sectors, prioritizing US job creation and technology development.
Prohibition on using funds to support companies linked to China or other 'countries of concern,' aiming to protect American intellectual property and prevent technology transfer.
Expired
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