Congressmen Introduce Bill to Boost Manufacturing

A bipartisan and bicameral group of lawmakers has proposed a bill that would offer incentives to boost manufacturing in America.

Reps. Mike Kelly (R-Pa.) and Ron Kind (D-Wis.), with Sens. Chris Coons (D-Del.) and Pat Roberts (R-Kan.), have introduced the Invent and Manufacture in America Act. The bill would give tax credits to companies that not only conduct research and development but also manufacture products resulting from that research and development.

Kelly argues that incentivizing work is one of the main drivers of entrepreneurial success and would be a boon to U.S. manufacturing.

“I’m from the private sector,” Kelly said. “What we’ve found that works best: If you want to do something, you usually incentivize any good behavior.”

Kelly said in conversations with manufacturers he has heard that plants relocate in search of “favorable tax situations” and because “they feel that the policies that have come forward make it harder for them to be profitable and harder to exist.”

The issue of keeping jobs in America was a linchpin of President Trump’s campaign and has remained so during his presidency. Beyond Trump’s executive order focusing on apprenticeships and tightening rules on the H-1B visa program, not many changes have been made to spur job growth. Despite the inaction on Capitol Hill, Kelly hopes his initiative will gain momentum.

“I think it’s going to build as more people see it,” Kelly said. “Between Ron Kind and myself—we both sit on Ways and Means. We both come from very similar districts. Our main objective for both of us is to get our constituents back to work.”

The American Society of Mechanical Engineers supports the bill. Keith Roe, the group’s president, said the act “amplifies the success of the R&D tax credit by expanding its benefits to more fully serve the American worker.”

“When American innovations are manufactured abroad,” he said, “we surrender our competitive advantage.”

Source: Washington Examiner