The "Build America Fund Act" establishes the Manufacturing Sovereign Wealth Fund to rebuild domestic industrial capacity and promote economic sovereignty. Its primary objectives include revitalizing critical industries, reducing dependence on foreign supply chains, and ensuring domestic control over strategic production. The Fund also aims to catalyze innovation, support advanced manufacturing, and create high-quality jobs through strong wages, training, and labor standards. The Fund will be governed by a 13-member Board of Governors , appointed by the President and confirmed by the Senate, with diverse representation from labor, industry, academia, and finance. This Board will oversee daily management, approve strategic investment plans, and ensure alignment with national manufacturing and economic resilience goals. The Fund can make equity investments, loans, and loan guarantees in strategic manufacturing, technology, supply chain security, and workforce development sectors. Crucially, equity investments require a "golden share" provision, granting the Fund veto authority over actions like offshoring, facility shutdowns, foreign sales, and mass layoffs. All investments mandate that companies agree not to move or expand operations overseas for 50 years, use proceeds only in the U.S., and adhere to strict labor standards, including prevailing wages and neutrality towards union organizing. Companies violating these terms face suspension, divestment, or clawback of funds. The Fund receives substantial initial appropriations, starting with $100 billion in the first year, which may decrease if the Fund becomes self-sustaining from its revenues. Additional funding sources include duties from automobile tariffs and antidumping orders, a 1% fee on mergers and acquisitions over $1 billion, and a 0.1% fee on high-volume equity trading. A $100 fee on stock buybacks and a new "production offshoring fee" also contribute, alongside a 1% increase in the corporate tax rate, with the additional revenue dedicated to the Fund. To ensure accountability, the Fund will undergo annual audits by its Inspector General and the Government Accountability Office, and maintain a public transparency portal for investments. A new Industrial Sovereignty Council within the Executive Office of the President will integrate the Fund's decisions with broader U.S. economic, national security, and labor strategies, developing a 5-year "Industrial Sovereignty Strategy." Furthermore, the bill establishes a "Build America Dividend," a new refundable tax credit for eligible individuals, funded by 25% of the Fund's average annual proceeds, with an income-based phaseout.