Labor's signature reconstruction fund has passed the lower house and is expected to clear the Senate after the government struck a deal with the Greens to ensure it does not support coal and gas.
The $15 billion National Reconstruction Fund will provide finance for projects in key areas such as technology, transport and renewables to boost manufacturing in Australia.
Industry Minister Ed Husic said having the bill clear the lower house was a "good day" and the legislation would champion Australian manufacturing.