Committee on Banking, Housing, and Urban Affairs. Hearings held.
This bill gives the Department of Commerce new duties to study, map, and strengthen the supply chains that provide goods critical to national security and the economy. It creates a working group of federal agencies to identify weak spots in these supply chains and develop plans to reduce dependence on unfriendly countries. No new money is provided, and the whole thing expires after 10 years.
When supply chains break , as they did during COVID-19 with masks, chips, and baby formula , everyday Americans face empty shelves and higher prices. This bill tries to prevent future shortages by requiring the federal government to identify which goods are most vulnerable and create plans to produce more of them domestically or with friendly nations.