The Defence Production Act was in the past mainly a procurement tool for the armed forces. Under Joe Biden, it is fast becoming a part of the government’s arsenal for managing the economy
Save time by listening to our audio articles as you multitaskconfers a range of powers on the government in the name of national security. It can compel firms to prioritise certain contracts and it can offer them incentives, from loans to purchase commitments. Its aim is to ensure that the private sector is producing what the public needs, and to make sure the public can get it.
Both Bill Clinton and George W. Bush, for instance, applied it during an energy crisis in California in 2000-01. Donald Trump invoked thein March 2020 in response to the spread of covid. His administration required firms such as General Motors and 3to make ventilators and masks. And it steered vital materials to pharmaceutical companies to expedite their production of vaccines in Operation Warp Speed., even comparing it to the nationalisation of industry in Venezuela.
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