Tackling supply chain issues is a top priority for lawmakers
Producers are hoping that fixing supply chain issues is at the top of the list for federal lawmakers now.
Wisconsin Congressman Ron Kind says just nine companies are dominating trans-pacific trade. He says this has increased shipping rates by 1,000 percent in the last year.
Right now, lawmakers are having conversations about how to reduce our foreign dependence. There is one major bill, and it could help with ag equipment.
“Part of that is what President Biden has been talking about in-sourcing these jobs, in-sourcing these manufacturing facilities, so we’re more reliant on ourselves for what we need. We’re working on a bill called America Competes right now, which would make major investments in the microchip industry of the United States. We’re so dependent on foreign countries for our basic microchip and microprocessor supply, the world runs on that now, it’s the modern economy. And so, we’re trying to figure out ways to make sure the incentives are in place, we have that production capability in the United States.”
Kind says shipping times are down eight-fold in the last eight months, but there is still a long way to go to get back to pre-pandemic operations.