A bill introduced by U.S. Sen. Joni Ernst (R-IA) would give companies incentives if they brought their pharmaceutical, supply and medical device manufacturers back to the United States from China, the Ripon Advance reported.
Ernst said it took the COVID-19 pandemic occurring to realize the need for bringing manufacturing back to the United States, according to the news agency.
“The COVID-19 pandemic has been what I call a ‘great awakening’ when it comes to the vulnerabilities in our supply chain,” Ernst said, the news agency reported. “It’s clear now, maybe more than ever, that our nation has become all too dependent on the Communist Party of China for items like PPE, prescription drugs and other essential medical supplies. We need to fix that.”
The bill is called the Bring Entrepreneurial Advancements To Consumers Here In North America Act and was also sponsored by Sen. Kelly Loeffler (R-GA). It would amend the tax code to give companies incentives to move back to the United States, giving them the option of purchasing U.S. property to be fully deducted that first year of taxes, the news agency reported.
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