Reps. Ryan, Schakowsky lead bill to boost manufacturing sector

U.S. Reps. Tim Ryan (D-OH) and Jan Schakowsky (D-IL) are among a group of Congress members who introduced legislation designed to create opportunities in the manufacturing sector.

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The Manufacturing Reinvestment Corporation Act would create the products, processes, and transition opportunities that are necessary to address the climate crisis, embrace inclusion and empowerment of non-traditional manufacturing populations, and expand training opportunities in distressed communities.

Specifically, the bill charters the Manufacturing Reinvestment Corporation as the tax-exempt corporate body within the Department of Commerce. The new corporation would be responsible for implementing and overseeing the activities of the national manufacturing strategy. The proposal will be funded by an initial $20 billion appropriation by Congress with installments of $5 billion over the four years after the passage of the legislation.

“It is critical that we provide a comprehensive response to the challenges facing the manufacturing industry in America. We can start moving in that direction today by passing this legislation which includes the creation of a Chief Manufacturing Officer, appointed by the President, who will help provide industry specific advice on tax policies, infrastructure, transportation, regulations, and workforce development,” Ryan, chair of the House Manufacturing Caucus, said. “Retaining, filling, and growing manufacturing jobs in the United States is a complex task that requires deliberate, interconnected action across different federal and state government departments. With new and emerging challenges in artificial intelligence, cybersecurity, and data privacy, addressing these needs will require a high-level strategic response.”

Joining Ryan and Schakowsky as cosponsors of the bill are U.S. Reps. Marie Newman (D-IL), Danny Davis (D-IL), and Ro Khanna (D-CA).

“President Biden’s transformational American Jobs Plan will require many tools in the toolbox to succeed, and with this legislation, we lay out a path to success, growth and resiliency for our manufacturing sector,” said Schakowsky, chair of the Consumer Protection and Commerce Subcommittee of the House Energy and Commerce Committee.

The corporation’s board of directors will be a 15-member body with equal representation from federal agencies and national community stakeholders. Further, the board will be supported by an Advisory Committee consisting of academic and industry experts, public administrators, local community stakeholders, and others at the discretion of the board.

In addition, the corporation achieves the national manufacturing strategy through locally established Manufacturing Renaissance Councils (MRCs), which would be composed of public, private, and community stakeholders. The goal is to establish 30 MRCs over 10 years.