To amend the Internal Revenue Code of 1986 to support the national defense and economic security of the United States by incentivizing the construction of United States shipyards.

HR9921, the 'To amend the Internal Revenue Code of 1986 to support the national defense and economic security of the United States by incentivizing the construction of United States shipyards,' was introduced on July 23, 2026, by Rep. Nathaniel Moran (R-TX-1) and referred to the House Committee on Ways and Means. The bill has one original cosponsor, Rep. Mike Kelly (R-PA-16). As an early-stage bill, it has not been marked up or voted on. The legislative path requires committee consideration, potential amendments, House passage, Senate companion bill, and presidential action. The bill's tax incentive mechanism means it does not directly appropriate funds; instead, it reduces tax liability for qualifying shipyard construction investments. The exact credit rate and eligibility criteria are not specified in the provided data, but the intent is to lower the cost of building or expanding U.S. shipyards. The convergence with the July 20 executive order on defense supply chains is thematic: both actions target domestic industrial capacity, though the EO focuses on critical materials (rare earths, defense components) while the bill targets shipyard infrastructure. This is an industry-level connection, not a direct funding link. Structural winners are pure-play shipbuilders HII and GD, which operate major Navy shipyards. BA's shipbuilding exposure is negligible. The timeline is uncertain; tax bills typically require extensive committee work and reconciliation with Senate versions. No immediate market impact is expected until the bill advances.