A Worthwhile Investment
The decades-long experiment of allowing the free market alone to run the economy exacerbated the wealth gap, led to lost competitiveness, and weakened national security. Smart policy is getting us back on track.
After decades of neglect, the United States is finally pursuing smart public policy to build and maintain a robust domestic manufacturing base. New laws like the CHIPS and Science Act, Inflation Reduction Act, and Bipartisan Infrastructure Law are providing the funding and other incentives needed to encourage companies to invest in U.S. manufacturing, and new factories are being built all across America.
But these new initiatives must be the first step, not the last word, when it comes to manufacturing policy.
The United States remains woefully unable to produce many of the things we need, including everything from medicine to electronics to rare earth minerals. Rebuilding our domestic manufacturing base is a marathon, not a sprint – but it’s a race that is critical to our national and economic security. Policymakers must make it a priority to invest in our own production capabilities in the years ahead.
