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Joe Biden Proposes $700 Billion ‘Buy American’ Campaign

  • Joe Biden is proposing sweeping new uses of the federal government’s regulatory and spending power to bolster U.S. manufacturing and technology firms.
  • Plan calls for $700 billion investment in American goods and services as well as R&D at tech firms
  • Biden has previously pledged other policies such as raising the minimum wage and strengthening collective bargaining

During a campaign stop on Thursday, Democratic presidential candidate Joe Biden outlined a plan for a $700 billion investment in American companies and accused President Donald Trump of ignoring the nation’s workers during the COVID-19 pandemic and economic recession.

Biden is proposing a $400 billion four-year investment in government purchases of U.S goods and services, along with $300 billion to go to research and development at American technology firms. He promised that the investments would occur before the United States entered into any new international trade agreements. Biden has previously pledged reforms such as raising the minimum wage to $15 per hour and strengthening collective bargaining for workers.

Tightening of “Buy American” laws to keep US companies from bypassing, $15 minimum wage, repealing corporate tax breaks, strengthened collective bargaining; also pledge that domestic investment will occur before any negotiations for new international trade deals

The Trump campaign has cast Biden as being a threat to the economy and criticized his support for past trade policies, saying they harmed American workers.

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