Presumptive Democratic presidential candidate Joe Biden is proposing sweeping new uses of the federal government’s regulatory and spending power to bolster U.S. manufacturing and technology firms, in an economic pitch that’s expected to anchor his campaign.
Biden calls for a $400 billion, four-year increase in government purchasing of U.S.-based goods and services, plus $300 billion in new research and development in U.S. technology concerns. Among other policies expected to be announced July 9, he proposes tightening current “Buy American” laws that are intended to benefit U.S. firms but can be easily circumvented by government agencies.
