Congressman Tim Ryan Introduces Two Bills Aimed At Bolstering U.S. Manufacturing
Washington, DC – Congressman Ryan today introduced two new bills aimed at bolstering U.S. manufacturing and employment. The first of these bills, The RETAIN Act, modifies the United States Code for civilian and defense contracts by adding a preference for contractors that promise to retain jobs in the United States. To be eligible for the preference, an applicant for a federal contract must submit a certification that confirms the contractor and its subcontractors will not relocate jobs from the United States to foreign countries during the period of performance of the contract and will use products substantially manufactured in the United States and services provided in the United States under the contract. In addition to Congressman Tim Ryan, Representatives Marcy Kaptur, Louise Slaughter, and Mark Pocan also are original cosponsors of this bill.
“Companies that receive federal contracts paid for with taxpayer funds should keep their operations in the United States. That is common sense. Rewarding companies that ship jobs overseas with lucrative contracts sets a bad precedent that will only work to further erode our American manufacturing base, and the families it sustains,” said Rep. Ryan.
Congressman Ryan also introduced the Investing in America’s Small Manufacturers Act. This Act increases access to credit for small manufacturers through the Small Business Administration’s flagship loan guarantee programs. This legislation increases affordable loans to manufacturers, incentivizes manufacturers to grow operations, eliminates the “startup” penalty, expands education assistance to small manufacturers, and consolidates loan guarantee programs. This bill is Supported by the Information Technology & Innovation Foundation (ITIF).
“America has always been a place where hard work, innovation, and tenacity are rewarded. Supporting small businesses, especially small manufacturing companies, with the capital they need to grow and hire new workers is one of the best investments we can make in the economy of tomorrow,” said Rep. Ryan. “The entrepreneurial spirit is a powerful force, and I am confident this legislation can go a long way in making sure that spirit will help drive a renaissance in manufacturing.”
Sister legislation to this bill was originally introduced in the Senate by Senators Chris Coons and Cory Gardner last week.