Prohibiting False "Made in America" Claims Act - Requires a person convicted of intentionally affixing a "Made in America" label to any product sold in or shipped to the United States that is not made in America to be debarred from contracting with the Department of Defense (DOD) unless the Secretary of Defense waives such debarment in the interest of national security (current law requires the Secretary to decide whether a convicted person should be debarred).
Directs the Secretary to notify the congressional defense committees annually of any exercise of such waiver authority.