US Economy: Joe Biden Unveils New ‘Buy American’ Proposal – By Ben Scheffer (IB Times) / July 28 2021
Speaking at a Mack Trucks plant in Lower Macungie Township, Pennsylvania, President Joe Biden on Wednesday highlighted an initiative to increase the share of U.S.-made parts of products to qualify as “Made in America.”
Biden is seeking robust changes to the Buy American Act of 1933. The Buy American Act required the federal government to purchase goods determined to be 55% made in the United States. Biden seeks to immediately increase that threshold to 60%, then 65% by 2024, and eventually 75% by 2029.
BUY AMERICA: President Biden announces significant proposed changes to the 1933 Buy American Act, including increasing the percent of a product purchased by the federal government that must be manufactured in America from 55% to 75% and heightened enforcement of the act pic.twitter.com/AV6RZHVDAS
— Forbes (@Forbes) July 28, 2021
“I can sum it up in two words: ‘Buy American,'” Biden said while speaking at the operations facility. “If you give an American worker just a chance, there’s nothing they won’t do.”
Biden said that the Buy American Act would ensure that when the government buys goods they are U.S.-made.
“Previous administrations didn’t take it so seriously, my administration is going to make ‘Buy American’ a reality,” Biden said.
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