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July 28 (UPI) — President Joe Biden is traveling to Auburn, Maine, on Friday afternoon to discuss the impact of Bidenomics on the nation’s manufacturing sector, as announced by the White House.
Biden is scheduled to pay a visit to a textile plant and sign an executive order that aims to incentivize manufacturing of goods invented in the United States to support American manufacturing.
In addition to his visit to Auburn, Biden will also attend a campaign fundraiser in Freeport, marking his first trip to the state as president.
The White House issued a statement, highlighting the importance of Bidenomics in stimulating private sector investment, promoting American innovation and research, strengthening domestic manufacturing, and creating high-paying jobs.
The Biden administration acknowledges that while American workers, researchers, and companies have been instrumental in creating and developing significant technologies, most of these technologies have been manufactured overseas.
By prioritizing the “invent it here, make it here” policy, the executive order is intended to benefit American workers, communities, and enhance global supply chain resilience.
The White House emphasized that with President Biden’s investments in federal research and development through legislation such as the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act, the United States has a remarkable opportunity to expand its innovative capabilities.
Through the executive order, the administration aims to promote research and development investments that directly support American manufacturing and job growth in future industries, which is a key aspect of Bidenomics.
In addition, the executive order will simplify and centralize reporting for federal research and development funding recipients and their licensees by directing most agencies to transition reporting requirements to a single reporting portal by the end of 2025.
