July 1, 2022

ALG Backs Effort to Bring U.S. Manufacturing Back to America

“The global supply chain crisis underscores the importance of American manufacturing. This bill would bring U.S. manufacturers back home.”

Americans for Limited Government President Richard Manning co-signed a letter to Congressman Chip Roy (R-TX) thanking him for introducing a bill to bolster America’s industrial competitiveness. The letter, signed by representatives from 16 free-market think tanks and advocacy groups, supports H.R. 5649, the BEAT CHINA Act.

“The global supply chain crisis underscores the importance of American manufacturing,” Manning said. “This bill would bring U.S. manufacturers back home and ensure we aren’t dependent on countries such as China for our goods.”

From the letter:

The private property rights-free enterprise combo made ours the most innovative, prosperous nation on earth. Yet, we allowed other nations to drain our premier industrial base and economic competitiveness. Today, we must depend on other countries to manufacture many of the things we used to make in America. We must realize the vision President Reagan’s Young Commission expressed and reclaim our industrial competitiveness. BEAT CHINA does so.

H.R. 5649 goes about boosting our industrial base by the best means: economic incentives. The bill creates tax incentives to encourage private companies to relocate manufacturing facilities to the United States.

We commend how this version of the legislation broadens the incentives so as to attract the relocation of manufacturing here to source domestically industrial goods beyond medical products. This important change expands the prospect of attracting manufacturing from all economic and technological sectors, including domestic production of microchips, quantum computing, robotics, and wireless-digital devices.

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The post ALG Backs Effort to Bring U.S. Manufacturing Back to America appeared first on Daily Torch.

This post, ALG Backs Effort to Bring U.S. Manufacturing Back to America, was originally published on The Daily Torch.