The “Buy American” Executive Order & How it Helps Your Business
President Biden has Signed a New Order That Looks to Increase Budget by $400 Million
CLEARWATER, FL 02/09/2021 – On January 25th, 2021, President Joe Biden signed a new executive order referred to as “Buy American.” He hopes to ensure that the “Future of America is Made in America.” This will alter Government Contracts and will bring changes to your business in several ways. Read further to learn more about the executive order and the opportunities that are waiting for your business.
In the current global situation, thousands of businesses have shut their doors, while thousands more continue to struggle. The newly elected President is aiming to assist and bring American companies back to life.
In layman’s terms, the Buy American initiative was set out by the U.S. Government to create an acknowledged preference for American-made companies and the products/services they sell. Additionally, the order will ensure that construction materials are American-bought.
Congress passed the original Buy American Act in 1933. The Act was put forth to push the Federal procurement of domestic products. While there is a long list of additions to the initial 1933 act, President Biden’s is the largest of its kind.
By itself, the Buy American initiative stands for something great. But even more impressive, the order will bolster Federal Government spending. The United States Government is already the largest purchaser of goods and services globally; adding more budget means more opportunities for your business to win contracts.
During the campaign, Biden proposed the Buy American plan. He has followed through on his word to help American small businesses weather the storm. To find out what opportunities are available for your business and how GSE can assist you, call (888) 521-1170 now.