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Diving brief:
- The United States Small Business Administration has announced its Manufacturing initiative made in America Last week, aimed at reducing administrative formalities and regulatory costs for manufacturers.
- As part of the effort, the agency said it would reduce $ 100 billion in regulation through the Office of Advocacy and will launch a paperline of Paperasse for small businesses and manufacturers to share the comments and call what they believe to be unnecessary regulations.
- In addition, SBA seeks to expand financing options and facilitate qualification for small businesses, in particular for real estate, construction and purchases of equipment.
Diving insight:
The SBA initiative is part of the agenda of President Donald Trump to create jobs and the manufacture of reshaping, taking advantage of prices as a tool to encourage companies to invest in American facilities to avoid import taxes. President’s actions in recent weeks have shaken marketsBut also put pressure on businesses in the sectors Engage yourself to American investment and expansion opportunities.
Vice-president JD Vance spoke of the administration’s interior thrust during a visit to a plastic manufacturing center in Bay City, Michigan on Friday.
“We will reduce your taxes, we will reduce your regulations and we will reduce the cost of energy to build things here in this country”, ” Vance said during his remarks.
He visited a Vantage plastic factory and pointed out the progress made by Trump to offer an “American return” during the first two months of his second term. It was Vance’s first official visit to Michigan since before the elections.
During his remarks, Vance said that the country had obtained 10,000 manufacturing jobs during the first full month of Trump in February, marking a reversal after losing a average of 10,000 manufacturing jobs per month last year.
“Our goal is to make it easier and more affordable to do things in the United States,” said Vance. “If you invest in America, in American jobs, in American workers and in American companies, you will be rewarded.”
To accelerate the administration’s objectives, the SBA said it would reduce billions of dollars in regulations through the advocacy office. A surveillance group that supports the interests of small businesses before the congress. The group is responsible for identifying and eliminating the rules, policies and procedures that hang small businesses and manufacturers.
In the United States, more than 600,000 small businesses are more than 600,000 small business manufacturers, employing 4.8 million workers with an annual payroll of more than 277 billion dollars, According to the advocacy office. More than 20% of all small American manufacturers treat manufactured metallic products.
In addition to the regulatory cuts, the administration seeks to extend access to the SBA 504 loan program, which provides funding for real estate, construction and purchases of equipment.
It also expands the use of the SBA 7 (A) rolling capital pilot program (A), which offers financing for inventory purchases and export expenses for international markets, according to the announcement. The two loan programs operate without taxpayer financing.
“If you want to be rewarded, build in America,” said Vance during his remarks. “If you want to be penalized, build outside America. It’s as simple as that. “