President Biden wants to up the standard for what is considered American-made.
“President Biden on Wednesday will roll out a new proposed rule that would change the way the federal government assesses products made in America.
Right now, the federal government has to spend tax dollars on products made in the U.S., but purchases qualify for that label with 55% of their materials coming from the United States. Biden is proposing raising the threshold to 75% by the end of the decade.
The White House said in a fact sheet that the plan would ‘ensure taxpayer dollars help America’s businesses compete in strategic industries and help ensure America’s workers thrive.’
The rule would take several months to be finalized, and it’s the latest effort by the administration to boost domestic manufacturing.”
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