Congressman Ryan (Ohio) introduced two new bills last month aimed at bolstering U.S. manufacturing and employment.
He calls the first of these the "Retain Act" which modifies the U.S. 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 substantial manufactured in the United States and services provided in the United States under the contract.
It seems to us like this addresses a problem that doesn't exist. If every bidder promises to retain jobs in the U.S., everyone gets the preference and then there is no preference.
The second bill is called the "Investing in America's Small Manufactures Act". This Act increases access to credit for small manufacturers through the Small Business Administration's (SBA's) loan guarantee program. This legislation increases affordable loans to manufacturers, incentivizes manufacturers to grow operations, eliminates the startup penalty, expands education assistance to small manufactures, and consolidates loan guarantee programs.
There is a companion bill in the Senate for the Investing in America Act.
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