Critical Supply Chain Cost Reduction and Domestic Manufacturing Act

To reduce inflationary pressure on American families and producers by lowering dependence on volatile foreign supply chains, this bill establishes a temporary, targeted federal tax credit for domestic production and expansion of critical industrial goods, including steel inputs, machine parts, industrial chemicals, electrical components, and freight equipment; directs federal agencies to give preference, consistent with existing trade law, to competitively priced U.S.-made critical goods in procurement contracts; and requires the Department of Commerce to identify priority bottlenecks and report annually to Congress on price effects, supply resilience, and job creation, with incentives limited to firms that make substantial new capital investment and maintain production in the United States.