Make More in America Act of 2026

This bill expands the mission of the Export-Import Bank of the United States to focus on building export-related domestic critical industries that support U.S. employment and global competitiveness.

Sec. 4, Modification of powers and functions: The bill expands the Bank's powers to provide loans, guarantees, grants, cooperative agreements, offtake agreements, price insurance, and other instruments to accelerate development, commercialization, and production of critical technologies, including those from federally funded research. It also grants additional powers to enter into various transactions, make advance payments, hire experts, appoint scientific personnel, and use other federal agency resources.

Sec. 5, Make More in America Program: The bill establishes a program under which the Bank provides financing and other support for export-related manufacturing projects in the U.S., including for startups and companies that do not yet export. Priority areas include strategic industries with foreign subsidies or supply chain risks, industries critical to national security, and emerging industries not yet at commercial scale. Listed industries include transformational export areas, critical minerals, shipbuilding, robotics, and aerospace.

Sec. 6, Modification of aggregate loan, guarantee, and insurance authority: The bill sets the aggregate loan, guarantee, and insurance authority at $205,000,000,000 for each fiscal year from 2027 through 2033.

Sec. 7, Modification of default rate and lending cap: The bill establishes separate default rate thresholds that freeze lending for each portfolio: 2% for oil and gas transactions and 4% for other traditional export credit transactions, and 10% for both the Make More in America Program and China and Transformational Exports Program portfolios. Freezes end when rates fall below those thresholds, with certain contingencies.

Sec. 8, Investment Committee: The bill establishes an Investment Committee composed of the Bank's President, Board of Directors, and representatives from multiple federal departments and agencies, plus three Senators and three House Members. The committee must develop a 10-year investment roadmap for technology areas and national missions, approved by the National Economic Council, National Security Council, and Office of Science and Technology Policy.

Sec. 9, Interagency coordination: The bill establishes an interagency working group co-chaired by the Bank's President and the Director of the National Economic Council to provide guidance on priority industries, coordinate federal programs, and align with the Trade Promotion Coordinating Committee. Domain-specific working groups will be created for technology areas identified in the investment roadmap.

Sec. 10, Limitation on eligibility for support: The bill prohibits financing or support to entities in which the President, Vice President, Members of Congress, certain presidential appointees, special government employees, Investment Committee members, or their spouses or certain relatives hold a significant interest, with exceptions for de minimis interests.

Sec. 11, Modification of Program on China and Transformational Exports: The bill expands the program to include the Russian Federation alongside China and covered countries, and adds nuclear energy to the list of transformational export areas.

Sec. 12, Increase in goal for export of goods and services related to renewable energy sources, energy efficiency, and energy storage: The bill increases the goal for such exports from 5 percent to 10 percent.

Sec. 13, Employment authority: The bill allows the Bank's Board to compensate up to 150 employees without regard to certain federal pay provisions, and repeals a related prior law.

Sec. 14, Expansion of guarantee coverage: The bill expands guarantee coverage to include the Make More in America Program and the Working Capital Guarantee Program, but limits 100 percent coverage under the Working Capital Guarantee Program to principal amounts not exceeding $50,000,000.