A new bipartisan bill introduced by Sen. Marco Rubio (R., Fla.) and Rep. Ro Khanna (D., Calif.) seeks to identify and resolve weaknesses in U.S. supply chains that could hurt national security and slow domestic manufacturing growth, The Wall Street Journal reports. The 18-page proposal, called the National Development Strategy and Coordination Act of 2022 aims to strengthen domestic manufacturing and reduce U.S. reliance on other countries while addressing both long term and immediate supply chain shortfalls.
No other lawmakers have signed onto the proposal, though many have voiced concerns over critical shortages and supply chain hurdles in years past and have called on Congress to respond.
“For decades, we watched as American industry went offshore, and we basically offered a Band-Aid to communities,” Mr. Khanna said in an interview.
“If we want to be a strong nation, we have to rebuild and invest in critical industries at home,” Mr. Rubio said. He said the bill would create “the road map, using existing tools within our government, to focus on and invest in things that actually matter.”
Related Stories
Housing Policy + Finance
Rent Control Policies Gain Traction—Economists Say They’re a Bad Idea
Support for rent control policies is building amid an ever-growing affordability crisis, but economists worry that if implemented, they could deter new housing development
Housing Policy + Finance
The Federal Reserve Isn’t Slowing Its Rate Hikes Ahead of the Spring Market
The 30-year fixed-rate mortgage surged above 7% yet again, threatening to squash a recent resurgence of buyer activity
Housing Markets
Here Are the US Metros Where Home Price Growth Is Slowing the Fastest
Home price growth slowed further in December as rate hikes from the Federal Reserve propelled a post-pandemic housing correction. These are the cities that saw the biggest changes
