S. 4758 · 117th Congress
RAMP Act
- Stage
- In committee
- Sponsor
- John Kennedy
- Introduced
- 2022-08-03
- Latest action
- 2022-08-03 · Introduced in Senate
Summary
Returning American Manufacturing Potential Act or RAMP Act
This bill provides for enhanced domestic content requirements in federal procurement.
Specifically, the bill requires that more than 60% (currently, 55%) of the value of the components of products that the federal government purchases be made in the United States. Such requirement increases to 65% at the start of 2024 and 75% at the start of 2029.
Such requirements shall not apply to manufactured articles that consist wholly or predominantly of iron, steel, or a combination of iron and steel.
Additionally, the bill establishes price preferences for domestic goods that the federal government designates as critical to U.S. supply chains.