Biden Administration Outlines New And Existing Policies To Address Supply Chain Challenges

On February 24, the Biden administration released a series of supply chain reports focusing on a range of sectors and several federal agencies. Each report outlines specific actions the Biden administration will take to improve supply chain logistics.

The U.S. Department of Transportation’s report, for example, calls for:

• Investing in freight infrastructure like ports, bridges, and railroads to enhance capacity and connectivity;
• Providing technical assistance to support the planning and coordination of freight investments and operations and supporting workers employed in this sector;
• Strengthening and streamlining governance to improve efficiency, build the workforce, increase competitiveness, and reduce safety and environmental risks;
• Improving data and research into supply chain performance; and
• Partnering with stakeholders across the supply chain, including coordination with both the public and private sector.

The Biden administration also said it would expand access to capital for small manufacturers through new and existing programs at the U.S. Department of the Treasury and the Small Business Administration (SBA). Specifically, the administration will leverage $10 billion in American Rescue Plan funds deployed by the Treasury Department under the new and improved State Small Business Credit Initiative (SSBCI) into more than $70 billion in additional lending and investment for small businesses, including small manufacturers.

Find the White House announcement and all of the reports here.