Sully says Biden’s ‘Buy America’ plan is a non-starter and won’t work
SAN DIEGO (KUSI) – Every single president leaves office with arguably disappointing results and President Joe Biden is not going to be any different and his “Buy America” plan is a non-starter and in economic terms just won’t work, according to KUSI Contributor Sully Sullivan.
Biden signed an executive order on Jan. 25 meant to boost federal purchases of American-made products, to strengthen the U.S. manufacturing sector.
Federal law already requires this, but waivers are available if U.S.-made products cost too much.
The Biden order will make it harder to get a waiver, while also requiring more components inside finished products to be American-made instead of imported.
There will also be a new White House office enforcing the rules and making sure purchasing agencies don’t cut corners.
“It might be a good tag-line – some may even argue good politics, but it’s bad economics. It’s not a job-creating approach.
In facrt, this approach kills downstream jobs in one of two ways. Either you make it more expensive, so less of the downstream product is purchased, or if you have a given amount of money you’re spending on this Buy America package, it’s not available for other things to spend on,” said Sully on Good Morning San Diego.