Protecting American Advanced Manufacturing Act

This bill prohibits U.S. tax credits for advanced manufacturing components produced by companies linked to foreign adversaries. It directly affects manufacturers whose components would otherwise qualify for the 45X tax credit but are instead produced by entities classified as "disqualified" under the law. Key provisions define "disqualified entities" as those owned or controlled by foreign governments, with 10%+ ownership by such entities, or subject to their influence through debt, contracts, or other arrangements. The rule applies to taxable years after the bill's enactment, blocking tax benefits for components tied to entities designated as national security threats.