Bipartisan legislation announced this week could provide as much as $20 billion in federal funding to bolster the nation’s industrial supply chains.
Sen. Marco Rubio, R-Fla., and Rep. Ro Khanna, D-Calif., unveiled the National Development Strategy and Coordination Act on Tuesday.
They said the measure would provide greater focus for existing industrial investment programs currently scattered across multiple agencies.
The bill would establish a new committee composed of the heads of numerous cabinet-level agencies.
That panel, in turn, would be charged with crafting a national development strategy every four years.
The strategy would identify supply chain vulnerabilities and manufacturing shortfalls — and make recommendations for addressing them.
The committee would also be given oversight of a Treasury Department lending division to direct funding toward those goals.
The program could be worth $20 billion over 10 years.