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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Apr 12, 2021.
National Institute of Manufacturing Act
This bill establishes the National Institute of Manufacturing to serve as the central hub for federal manufacturing programs.
The institute shall, among other things, (1) convene key stakeholders to identify the needs and priorities of the U.S. manufacturing sector; (2) support and incentivize manufacturing-focused research, collaboration, and education; and (3) provide small and medium manufacturers with financial support, including loans, counseling, training, technical assistance, and advocacy.
Overseen by a Director, the institute shall be composed of various directorates (e.g., a Directorate for Technology Development and a Directorate for Trade), and the functions of specified federal manufacturing programs and offices shall be transferred to the institute and its directorates. Transferred programs and offices include the Investing in Manufacturing Communities Partnership, the Manufacturing USA Program, the Hollings Manufacturing Extension Partnership Program, and the Office of Manufacturing.
The bill also permanently reauthorizes the U.S. Manufacturing Council of the International Trade Administration as the National Manufacturing Advisory Council, and it tasks the council with (1) ensuring regular communication between the federal government and the U.S. manufacturing sector, (2) advising the Department of Commerce on government policies and programs that affect U.S. manufacturing, and (3) ensuring the United States remains the leading destination for investment in manufacturing throughout the world.