The House on Dec. 2 unanimously passed the Made in America Manufacturing Finance Act, a bipartisan bill that would expand federal loan limits for small manufacturers and aims to bolster domestic supply chain resilience.
The legislation would increase Small Business Administration-backed loan capacity to $10 million for qualifying U.S. manufacturers.
The American Medical Manufacturers Association, which represents domestic producers of critical medical supplies and PPE, said the measure is a strategic investment in supply chain stability. The organization added that the bill would provide capital to upgrade equipment, expand production and reduce reliance on foreign suppliers.
“Every time a U.S. manufacturer can finance a new production line here at home instead of relying on bad actors overseas, American workers, hospitals and first responders are safer and stronger,” association Executive Director Eric Axel said in a Dec. 2 statement shared with Becker’s.
The bill now moves to the Senate, where companion legislation is led by Sens. Joni Ernst, R-Iowa, and Chris Coons, D-Del. The AMMA urged swift passage, calling the expansion of manufacturing loan access essential to reshoring critical supply lines.
