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Brady, Boustany Push for a Sensible “Buy American” Policy in Financial Services Appropriations Bill

July 14, 2009

Washington, DC — Ways and Means Trade Subcommittee Ranking Member Kevin Brady (R-TX) offered an amendment to the Financial Services Appropriations bill for fiscal year 2010 to cure the flaws of the Democrats’ misguided “Buy American” policies in the underlying bill.    

“Credible reports are surfacing that the confusing Buy American expansion in the stimulus bill is causing project delays, as well as costing American jobs and sales as U.S. companies are excluded.   Recklessly expanding this law hurts U.S. workers and ignores the realities of the international supply chains that American companies rely on to compete successfully and survive these tough economic times,” said Brady.  “My amendment simply says don’t go down this risky road if the Commerce Department determines it will reduce American jobs or sales of American products and services.”  
Ways and Means Oversight Subcommittee Ranking Member Charles Boustany, Jr. (R-LA) added, “This is an important amendment that will ensure American jobs are protected in this difficult economic climate.  Small businesses are the backbone of our economy, and forward-thinking, common sense trade policies will make these companies competitive and save U.S. jobs.”