Joe Biden Unveils New ‘Buy American’ Proposal for the US Economy
President Joe Biden highlighted an endeavor to raise the amount of U.S.-made parts in goods to qualify as “Made in America” during a speech at a Mack Trucks plant in Lower Macungie Township, Pennsylvania, on Wednesday.
Biden wants to make significant revisions to the Buy American Act of 1933. The Buy American Act mandated the federal government to acquire goods that were judged to be made in the United States to a percentage of 55 percent. Biden wants to raise the requirement to 60% immediately, then to 65 percent by 2024, and finally to 75 percent by 2029.
BUY AMERICA: President Biden outlines major proposed modifications to the 1933 Buy American Legislation, including raising the percentage of a product acquired by the federal government that must be manufactured in the United States from 55 percent to 75 percent and tightening enforcement of the act. pic.twitter.com/AV6RZHVDAS
“I can summarize it in two words: ‘Buy American,’” Biden said at the operations center. “Give an American worker a chance, and there’s nothing they can’t accomplish.”
The Buy American Act, according to Biden, would ensure that commodities purchased by the government are created in the United States.
“Where previous administrations have failed to take it seriously, my administration will make ‘Buy American’ a reality,” Biden declared.
I’m on my way to a Mack Trucks plant to underscore the importance of ensuring that the future is created in America – by all of America. Pennsylvania, we’ll see you soon!
A few pictures from outside the Mack Trucks plant at Macungie, Lower Macungie Township, ahead of @POTUS President Biden’s visit there today. @mcall pic.twitter.com/rINOIhUVyJ See our coverage @mcall pic.twitter.com/rINOIhUVyJ
Biden talked on how he wants to help American businesses by creating more union jobs and bolstering manufacturing.
To applause, Biden replied, “Unions built the middle class.” In March, Biden praised the America Rescue Plan Act, a $1.9 trillion economic stimulus measure.
“A critical aspect of Biden’s industrial plan to create the industries of the future to support U.S. workers, communities, and enterprises is leveraging that purchasing power to shape markets and accelerate innovation. As the pandemic has shown, federal procurement can strengthen domestic supply chains and lessen the danger of Americans being negatively impacted by competing countries’ actions during a crisis,” the White House said in a statement.
According to top administration sources, Biden’s current proposal also includes two further moves. The first would be a list of “improved price preferences for bid evaluation reasons.” Brief News from Washington Newsday.