The Revitalizing American Manufacturing and Innovation Act has bi-partisan support and would boost a critical segment of the U.S. economy, says Karen Mills, a senior fellow at Harvard Business School and Harvard Kennedy School.
Congress is back in Washington with the intent to get some key things done between now and the end of the year. One of those things needs to be making an investment in our economy by passing the Revitalizing American Manufacturing and Innovation (RAMI) Act, which would invest in a key segment of the U.S. economy: manufacturing. Here’s why.
Americans are tired of partisanships stymieing progress, and they are overdue for a sign from Washington that our leaders haven’t forgotten what agreement looks like.
More importantly, passing this bill would invest in the sector that has the greatest impact on our economy – every $1 spent in manufacturing generates another $1.35 in additional economic activity, which is more than is generated by any other sector, according to the U.S. Bureau of Economic Analysis. It also demonstrates an understanding of what it will take to continue to drive our nation’s competitiveness and create the kinds of good-paying jobs that offer a path to the American Dream.
Now, that’s a lot to put on the shoulders of a piece of legislation that most Americans haven’t heard of. But, it’s true and it’s achievable.
So what would RAMI do? It would establish up to 15 manufacturing institutes across the country – building on four that were already created by the Obama Administration. To do this, it would bring together government, colleges and universities, research institutions, business and industry in partnership to accelerate manufacturing innovation.
Read more: Fortune