Facilitating the Reshoring of Energy Grid Component Manufacturing Act of 2023
12/15/2023, 4:05 PMSummary of Bill S 34
Bill 118 s 34, also known as the Facilitating the Reshoring of Energy Grid Component Manufacturing Act of 2023, aims to promote the reshoring of energy grid component manufacturing in the United States. The bill seeks to address the current reliance on foreign countries for critical energy grid components by providing incentives and support for domestic manufacturing.Under this legislation, the Department of Energy would be tasked with developing a comprehensive strategy to encourage the reshoring of energy grid component manufacturing. This strategy would include measures such as providing grants, loans, and technical assistance to companies looking to bring their manufacturing operations back to the US.
Additionally, the bill would establish a Reshoring Task Force to coordinate efforts between federal agencies, industry stakeholders, and other relevant parties. The task force would be responsible for identifying barriers to reshoring, developing solutions, and monitoring progress towards the goal of increasing domestic manufacturing of energy grid components. Overall, the Facilitating the Reshoring of Energy Grid Component Manufacturing Act of 2023 aims to strengthen the US energy grid by reducing reliance on foreign suppliers and promoting domestic manufacturing. By incentivizing companies to bring their manufacturing operations back to the US, the bill seeks to enhance national security, create jobs, and support economic growth in the energy sector.
Congressional Summary of S 34
Facilitating the Reshoring of Energy Grid Component Manufacturing Act of 2023
This bill directs the Department of Energy (DOE) to establish a loan program for the production of energy grid products or components. Under the program, DOE may provide loans for activities related to projects that reequip, expand, or establish manufacturing facilities to produce energy grid products or their components. Energy grid products include large power transformers or any other electrical equipment commonly used for the transmission or distribution of electric energy by public electric utilities.
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Current Status of Bill S 34
Bill S 34 is currently in the status of Bill Introduced since January 24, 2023. Bill S 34 was introduced during Congress 118 and was introduced to the Senate on January 24, 2023. Bill S 34's most recent activity was Read twice and referred to the Committee on Energy and Natural Resources. as of January 24, 2023Bipartisan Support of Bill S 34
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 34
Primary Policy Focus
EnergyAlternate Title(s) of Bill S 34
Facilitating the Reshoring of Energy Grid Component Manufacturing Act of 2023Facilitating the Reshoring of Energy Grid Component Manufacturing Act of 2023A bill to require the Secretary of Energy to establish a program to provide loans to manufacturers of energy grid products and components.Comments
Most relevant
Sponsors and Cosponsors of S 34
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