Snap Fact #121
President Obama Signed The US Manufacturing Act To Create More Jobs Early In His Administration!
On August 11, 2010, President Obama signed the US Manufacturing Enhancement Act to create more jobs in the U.S. economy, to strengthen American business in its ability to compete with other companies around the world, and to improve the manufacturing sector in our country. This practical bill shows the Presidents visionary ability. The bill was passed over a year and a half ago and it's long term results are just being realized today. This bill alone could not have caused the shift, but along with several other related and coordinated efforts, the President has begun to turn the tide of the outflow of jobs overseas.
One example of this is that the legislation cut some tariffs and taxes so that American products such as cars could be sold more competitively in other countries, while making American products cheaper and more competitive for the American people right here at home.