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.
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