Biden proposes $700 billion-plus ‘Buy American’ campaign

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. Biden wants 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. Biden’s plan is expected to be announced Thursday. It calls for such investments before negotiating any new international trade deals. Biden also proposes tightening current “Buy American” laws that are intended to benefit U.S. firms but can be easily circumvented by government agencies.

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