Make More in America Act of 2026
- Bill Number
- S. 4781
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 2
- Policy Area
- Foreign Trade and International Finance
- Status
- Introduced
- Latest Action
- 2026-06-15: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S2786-2791; Sponsor introductory remarks on measure: CR S2786)
- Last Updated
- 2026-07-06T19:33:36Z
AI-Generated Summary
Make More in America Act of 2026 (S. 4781)
Purpose of the Legislation
- To expand the mission of the Export-Import Bank of the United States (EXIM Bank) to support the development, commercialization, and production of critical technologies in the United States for export.
- To address supply chain vulnerabilities, counter competitive threats from the People's Republic of China, and strengthen U.S. economic competitiveness and national security.
- To promote domestic manufacturing, job creation, workforce training, and coordination across federal agencies for industrial growth.
Key Provisions Outlined
- Make More in America Program: Establishes a new program to provide financing, loans, guarantees, grants, and other instruments for export-related manufacturing projects in priority industries, including strategic sectors with foreign subsidies, national security-critical industries (e.g., semiconductors, biotechnology, quantum technology, critical minerals, shipbuilding, advanced energy), and emerging industries lacking private capital.
- Expanded Powers: Allows the EXIM Bank to enter into contracts, grants, offtake agreements, insurance facilities, and other transactions; make advance payments; hire experts and specialized personnel; and use services from other federal agencies.
- Aggregate Authority: Increases the Bank's lending, guarantee, and insurance authority to $205 billion for fiscal years 2027 through 2033.
- Default Rate and Lending Caps: Sets portfolio-specific default rate thresholds (e.g., 10% for the new program and China program; 2-4% for traditional exports) that trigger lending freezes, with exceptions for national security or financial crises.
- Investment Committee: Creates an interagency committee to develop a 10-year public investment roadmap for technology areas and national missions, with advisory committees and public availability.
- Interagency Coordination: Establishes working groups for advanced manufacturing and critical technologies, involving agencies like Commerce, Energy, Defense, and others, with annual briefings to Congress.
- Eligibility Limitations: Prohibits support for entities with significant interests held by covered individuals (e.g., President, Vice President, Members of Congress, their families), with de minimis exceptions.
- Modifications to Existing Programs: Expands the China and Transformational Exports Program to include the Russian Federation; increases the renewable energy export goal from 5% to 10%; allows 100% guarantee coverage for certain small/medium exporter loans.
- Workforce and Compliance Requirements: Mandates job creation estimates, prevailing wage standards, clawback provisions for delays or non-compliance, and workforce training commitments; targets 30% of applicable funds for the new program.
- Employment Authority: Allows compensation for up to 150 employees outside standard civil service rules.
Significant Changes to Existing Law
- Shifts EXIM Bank's core mission from facilitating exports of U.S. goods to also supporting domestic production and commercialization of critical technologies for future exports.
- Introduces a dedicated domestic manufacturing program with preferential terms for distressed regions or high-wage jobs, plus strict monitoring and clawback mechanisms.
- Creates new governance structures (Investment Committee, domain-specific working groups) and interagency processes not previously in the Export-Import Bank Act of 1945.
- Adjusts default rate calculations to separate portfolios and raises certain thresholds, with new waiver options.
- Expands guarantee coverage and hiring flexibility beyond prior limits.
Potential Impacts
- On Government Agencies: Increases interagency collaboration and oversight roles for departments like Treasury, Commerce, Energy, and Defense; expands EXIM Bank's operational scope and reporting requirements.
- On Citizens: Aims to create and sustain U.S. jobs in manufacturing and supply chains, with emphasis on higher wages, training, and benefits in critical industries; may reduce import dependencies.
- On International Relations: Strengthens U.S. position in global markets for strategic technologies, potentially reducing reliance on adversaries and supporting exports to allies; may influence trade dynamics with China and others.
Main Stakeholders Affected
- U.S. manufacturing companies, startups, and suppliers in critical industries.
- Workers, labor organizations, and communities (especially in economically distressed regions).
- Federal agencies involved in the Investment Committee and working groups.
- EXIM Bank leadership and Board of Directors.
- Congress (through oversight, notifications, and appointments).
- Private lenders and financial institutions participating in guarantee programs.
Notable Legal, Constitutional, or Political Implications
- Broadens executive branch authority for transactions, appointments, and waivers, including potential conflicts with standard civil service and procurement laws.
- Includes anti-conflict provisions targeting high-level officials and their families, which may raise issues of eligibility and enforcement.
- Introduces clawback and prevailing wage requirements tied to federal financing, enforceable with progressive recovery of funds.
- Emphasizes national security and economic competitiveness priorities, with contingencies for crises that could affect lending caps.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Sen. Schumer, Charles E. [D-NY]
Cosponsors (12)
Sen. Reed, Jack [D-RI], Sen. Klobuchar, Amy [D-MN], Sen. Coons, Christopher A. [D-DE], Sen. Schatz, Brian [D-HI], Sen. Warren, Elizabeth [D-MA], Sen. Booker, Cory A. [D-NJ], Sen. Van Hollen, Chris [D-MD], Sen. Duckworth, Tammy [D-IL], Sen. Kelly, Mark [D-AZ], Sen. Kim, Andy [D-NJ], Sen. Blunt Rochester, Lisa [D-DE], Sen. Alsobrooks, Angela D. [D-MD]
Recent Actions
- 2026-06-15: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S2786-2791; Sponsor introductory remarks on measure: CR S2786)
- 2026-06-15: Introduced in Senate
Bill Versions
- Make More in America Act of 2026 — issued 2026-06-15 — PDF (50 pages)