The US Senate Democrats have presented a comprehensive bill, the Make More in America Act, with the goal of strengthening the country’s manufacturing sector, reducing dependence on Chinese-controlled supply chains, and enhancing federal backing for industries crucial to US economic and national security interests. This proposed legislation aims to expand the scope of the Export-Import Bank of the United States (EXIM), enabling it to fund domestic manufacturing ventures in various sectors such as semiconductors, artificial intelligence, critical minerals, biotechnology, robotics, batteries, and shipbuilding.
Senate Democratic Leader Chuck Schumer, in announcing the bill, emphasized the need to address vulnerabilities in the US economy exposed by recurrent disruptions in global supply chains, leading to increased costs for American consumers. Schumer highlighted the importance of investing in American industries to mitigate the impact of supply chain crises, whether due to pandemics, conflicts, or economic strategies of other nations.
The Make More in America Act, introduced by Schumer along with several other senators including Jack Reed, Amy Klobuchar, and Elizabeth Warren, proposes empowering EXIM to facilitate the development, commercialization, production, and future export of technologies deemed essential for America’s economic competitiveness and national security. The legislation also seeks to establish a permanent “Make More in America Program” focused on enhancing manufacturing capabilities nationwide, with priority areas including semiconductors, artificial intelligence, quantum technology, biotechnology, and advanced energy systems.
Senator Reed emphasized the necessity of reversing the manufacturing decline witnessed during the previous administration, stressing the importance of strengthening domestic supply chains, revitalizing manufacturing competitiveness, and fostering growth in the manufacturing workforce to ensure the country’s ability to respond to global challenges and develop critical technologies domestically. The bill’s proponents underscored concerns over China’s increasing industrial dominance and the US reliance on foreign suppliers for key products, aiming to address these issues through the proposed legislation.
