The Supply Chain Resiliency Act will create a new program to monitor supply chain shortages and provide financing to expand manufacturing and logistical capacity across the nation, alleviating current supply chain bottlenecks and preventing future disruptions by investing in American companies

Earlier in the week, Senator Reverend Warnock hosted a roundtable discussion with business, port and labor leaders in Georgia on how to best mitigate supply chain disruptions gripping the global economy

Senator Reverend Warnock: “The Supply Chain Resiliency Act would help protect our economy against future crunches like we’re experiencing now, and help ensure that we’re manufacturing the critical goods we need for our families and communities here at home”

Senator Reverend Warnock has long been focused on addressing supply chain issues, through passage of the U.S Innovation and Competition Act, the bipartisan infrastructure deal and the upcoming economic package

Washington, D.C. — Yesterday, U.S. Senator Reverend Raphael Warnock (D-GA) introduced new legislation to mitigate the supply chain problems gripping the global economy alongside Senator Tammy Baldwin (D-WI). As ongoing, pandemic related supply chain disruptions impact businesses and consumers, the Supply Chain Resiliency Act will alleviate current supply chain bottlenecks and prevent future disruptions by investing in American companies to reduce our reliance on long supply chains and ensure that critical products are made in America.

“As we approach the holidays, Washington must look at all the ways we can help ease the supply chain issues that are impacting all of us—from workers and officials at our ports, to big and small businesses across our state, to our railroads and shipping industries, to hardworking Georgians forced to wait for common goods,” said Senator Reverend Warnock. “The Supply Chain Resiliency Act would help protect our economy against future crunches like we’re experiencing now, and help ensure that we’re manufacturing the critical goods we need for our families and communities here at home.”

The Supply Chain Resiliency Act creates an Office of Supply Chain Resiliency at the Commerce Department charged with monitoring, researching, and addressing vulnerable supply chains. The Office will provide loans, loan guarantees, and grants to small and medium manufacturers to allow them to address supply chain bottlenecks by expanding production. For example, a manufacturer that is unable to meet the increased demand for its products can get a low-interest loan from the Office of Supply Chain Resiliency to expand production. Through committed long-term low-cost financial support, the Office of Supply Chain Resiliency will provide incentives for manufacturers seeking to expand production in the United States and the companies that get their goods to market.

While Georgia and the nation’s economy are improving, many are still feeling the economic crisis brought upon by COVID-19. To that end, since entering Congress, Senator Warnock has worked to address the supply chain issues that have harmed consumers and businesses in Georgia. The introduction of the Supply Chain Resiliency Act comes on the heels of a virtual roundtable Senator Warnock hosted on Tuesday with infrastructure, business, labor and consumer advocacy leaders in Georgia, and the group discussed how to best mitigate the supply chain problems gripping the global economy. Additionally, Senator Warnock’s leadership on the U.S Innovation and Competition Act, and the infrastructure and economic packages currently being debated in Congress, positions Georgia to be a leader in R&D into the future and while also addressing persistent supply chain issues. In the U.S. Innovation and Competition Act, Senator Warnock authorized a bipartisan provision to stress the importance of the semiconductor supply chain, which is critical to Georgia businesses and manufacturers like Kia and NCR. Additionally, thanks to Senator Warnock’s leadership, the economic package includes $5 billion for the Department of Commerce to monitor supply chains and provide loans, grants, and guarantees to spur domestic manufacturing in critical industries. The package also includes $600 million to support port infrastructure and supply chain resiliency.

Senator Warnock has also repeatedly raised supply chain issues in the Senate Commerce Committee, including during a hearing this month with Dr. Laurie Locascio, nominee for National Institute of Standards and Technology (NIST) Director. President Biden has tasked NIST with investigating the nation’s supply chains, and in the hearing, Dr. Locascio committed to working with Senator Warnock to address the specific needs of Georgia businesses. Additionally, last month, Senator Warnock urged Congressional leaders to establish a Critical Supply Chain Resilience Program to protect domestic supply chains. And, Senator Warnock has spoken in Georgia about the need to strengthen supply chains, and visited businesses such as Kia Georgia that face shortages and production cuts due to supply chain barriers.

The full text of the Supply Chain Resiliency Act can be found here.

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