Bringing factories back home to the U.S.
It pays to bring manufacturing operations back to the U.S.
Congressman Frank Wolf (R-VA) included a "cost of ownership" concept in his bipartisan Bring Jobs Back to America bill (H.R. 516), first introduced in the 111th Congress and reintroduced in the 112th Congress.
Wolf's efforts have now impacted the nationʼs “minibus” spending bill as part of a strategy to bring outsourced jobs back to the United States.
Recently, the U.S. Senate and House approved, and President Obama signed, the minibus spending bill, which involves the 2012 budgets for the U.S. Departments of Agriculture, Commerce, Justice, Science, Transportation, and Housing and Urban Development. In particular, the bill encourages the Commerce Department to focus its efforts on reshoring manufacturing and specifically instructs Commerce to develop an online total cost of ownership calculator that firms may use to determine the hidden costs of offshore manufacturing, such as shipping and inventory carrying costs.
Related recent Blogs
- #ShopAmerica: Health and Beauty gift ideas • by LDonia • 12/11/2013
- Now there's an idea: Using trade policy as leverage with China • by mmcmullan • 12/11/2013
- 5 Keys to American-Made Holiday Shopping • by TGarland • 12/11/2013
- December 11, 2013: US Trade Rep has not discussed this "currency manipulation" everyone keeps talking about • by mmcmullan • 12/11/2013
- The Big Three set the stage for a manufacturing renaissance • by TGarland • 12/10/2013
- December 10, 2013: Welcome back, GM • by mmcmullan • 12/10/2013
- Pharmaceutical companies' interests are covered in the TPP -- as for everyone else? Ehh ... • by mmcmullan • 12/09/2013
- A swing and a miss for Biden in Asia • by TGarland • 12/09/2013
- December 9, 2013: China reports biggest trade surplus in five years • by TGarland • 12/09/2013
- Kickstarting a manufacturing renaissance • by TGarland • 12/06/2013