American Supply Chain and Cost Relief Act

A bill to reduce inflationary pressure by strengthening domestic production of steel, industrial machinery, and other essential goods through a temporary advanced manufacturing tax credit, accelerated depreciation for qualifying plant and equipment investments, and expedited federal permitting for new or expanded facilities that meet existing labor and environmental standards; to prioritize resilient U.S.-based supply chains for critical industrial inputs; and to require regular reporting to Congress on impacts to production capacity, consumer prices, and manufacturing employment.