Made in America Jobs Act of 2026

The Made in America Jobs Act of 2026 (HR7342) amends the Public Works and Economic Development Act of 1965 to add two new grant eligibility criteria: projects that facilitate the relocation of employment to the United States, and projects that facilitate the growth of the manufacturing sector. Introduced February 4, 2026 by Rep. Jeff Hurd (R-CO) with one cosponsor, the bill was reported amended by the House Transportation and Infrastructure Committee on March 20, 2026 with a committee report (H. Rept. 119-567, Part I). It was also referred to the Financial Services Committee. The bill remains in early legislative stages requiring House floor passage, Senate consideration, and presidential signature. The money trail is critical: this bill authorizes grant eligibility changes — it does not authorize or appropriate any specific funding amount. The EDA's public works program receives annual appropriations through the Commerce, Justice, Science appropriations bill. The key market impact is that existing and future EDA grant funding will now be explicitly available for reshoring and manufacturing projects, creating a structural demand tailwind for construction equipment and industrial infrastructure. The bill changes the USE of existing funding, not the total amount available. Structural winners: Caterpillar (CAT) is the clearest beneficiary as its Construction Industries and Resource Industries segments supply equipment essential for site preparation, foundation work, and industrial building construction at new factory locations. Deere (DE) benefits through its Construction & Forestry segment. GE Vernova (GEV) supplies electrical generation and grid equipment needed to power new industrial facilities. 3M (MMM) benefits from increased consumable demand across a broader manufacturing base. Real market data shows CAT has already rallied 24.51% in 30 days to $882.09, near its 52-week high of $889.64, indicating the market has partially priced reshoring and manufacturing tailwinds. DE gained 4.09% over 30 days to $586.33. MMM is flat (+0.52%) at $145.98 near the bottom of its 52-week range, suggesting significant upside if reshoring legislation advances. GE Aerospace ($GE at $288.79) is not a primary beneficiary; it is correctly positioned in aviation. The legislative timeline: HR7342 must pass the House, then the Senate, then be signed into law. The committee markup and reported amendment indicate active momentum. The bill's early stage and lack of Senate companion bill suggest a 2026 passage is possible but not guaranteed in an election year. Appropriations for FY2027 would determine actual grant funding levels.