Bill Comparison
A comprehensive side-by-side view of all four bills — cost, mechanism, target, guardrails, and key benefits at a glance.
§1Overview Comparison
| Attribute | MINA Act | DO IT NOW Act | Mannie Mac | MICA |
|---|---|---|---|---|
| Full Name | Manufacturing Incentives Now Act | Domestic Offensive and Defensive Industrial Transformation Now Act | Manufacturing Finance Corporation Act | Made in America Continuity Act |
| IRC / Structure | IRC Section 38A | IRC Section 38B | Government-Sponsored Enterprise | IRC Section 1202A |
| 10-Year Cost | $500–560B (10-year) | $380–480B (10-year) | $25B (appropriation) | $30–50B (10-year) |
| Mechanism | 6% transferable tax credit on domestic value-added (DVA) costs | Additional 14% transferable credit (total 20% combined with MINA) | GSE providing partial federal guarantees (70–85%) on bank-originated manufacturing loans | 100% capital gains exclusion (up to $250M) for long-term manufacturing business succession |
| Target | All domestic manufacturers (NAICS 31–33) | Ten strategic sectors and their full supply chains | Small and mid-sized manufacturers ($5M–$500M revenue) | ~125,000 boomer-owned manufacturing companies employing 2.6 million workers |
| Primary Benefit | Broad manufacturing incentive with 5%/yr growth | Strategic sector focus with 5%/yr growth | $250B+ in guaranteed lending; ~$600B total investment mobilized | Rebuild and re-energize private manufacturing companies |
§2Mechanism Details
| Feature | MINA Act | DO IT NOW Act | Mannie Mac | MICA |
|---|---|---|---|---|
| Credit / Benefit Type | 6% transferable tax credit on DVA costs | 14% additional transferable credit (20% combined with MINA) | Partial federal loan guarantees (70–85%) | 100% capital gains exclusion up to $250M |
| DVA Requirement | 20% floor, 80% cap; all NAICS 31–33 | Same as MINA; requires valid MINA election | Qualifying manufacturer (NAICS 31–33) | ≥40% DVA (3-year average) |
| Transferability | Sell to qualified buyers (DVA ≥40%) or Treasury at 85% | Same transferability as MINA | Securitization on secondary market | N/A — capital gains exclusion |
| Leverage / Guardrails | Leverage Factor phases down for D/E > 0.11 to 1.5 | Same leverage adjustment as MINA | First-loss bank structure; 4–5% loss rate | No debt >5× EBITDA; 7-year recapture period |
| Recapture / Clawback | 5-year offshoring recapture | 5-year recapture triggers both MINA + DO IT NOW credits | Bank shares first-loss risk on every loan | Buyer recapture: early sale, excess leverage, offshoring >30%, employment <50% |
| Holding Period | Annual credit; no holding period | Annual credit; no holding period | Loan terms set by banks | 10-year hold (or qualified IPO) |
§3Who Benefits
| Beneficiary | MINA Act | DO IT NOW Act | Mannie Mac | MICA |
|---|---|---|---|---|
| Large Manufacturers | ✓ Credit proportional to DVA | ✓ If in strategic sector | ✓ Loan access | — (targets private succession) |
| Small/Mid Manufacturers | ✓ Credit proportional to DVA | ✓ If in strategic sector | ✓ Primary target ($5M–$500M) | ✓ Primary target (~125K firms) |
| Pre-Profit / Startups | ✓ Sell credits for cash | ✓ Sell credits for cash | ✓ Loan guarantees | — (requires existing business) |
| Defense Industrial Base | ✓ Broad support | ✓ Targeted support | ✓ Capital access | ✓ Preserves capability |
| Workers | ✓ Incentivizes domestic labor | ✓ Strategic sector jobs | ✓ Enables expansion hiring | ✓ Employment guardrails |
| Local Communities | ✓ Keeps production onshore | ✓ Keeps critical sectors onshore | ✓ Every-district lending via local banks | ✓ Preserves local supply chains |
§4How They Work Together
MINA provides the broad foundation
A 6% DVA credit for all 600,000+ U.S. manufacturers (NAICS 31–33) improves returns across the entire industrial base. This is the "rising tide" that makes domestic manufacturing more competitive against Chinese subsidies.
DO IT NOW targets critical vulnerabilities
An additional 14% credit (20% combined) for ten strategic sectors addresses the 30–60% cost disadvantage these sectors face versus China. Semiconductors, rare earths, pharmaceuticals, and defense components get the extra push needed to reshore.
Mannie Mac unlocks the capital
Tax credits improve the income statement; Mannie Mac improves the balance sheet. With $25B in federal reserves supporting $200–250B in guaranteed lending, manufacturers can actually finance the expansion that MINA and DO IT NOW incentivize.
MICA preserves the base
With ~125,000 boomer-owned manufacturers approaching succession, MICA ensures these companies stay onshore, stay operational, and stay in the supply chain — rather than being stripped by leveraged buyouts or offshored.