Puerto Rico Resident Commissioner Jenniffer González-Colón recently led a bipartisan group of lawmakers in introducing a measure that bolsters the U.S. supply chain amid the COVID-19 pandemic.
González-Colón and Reps. Donna Shalala (D-FL), Rob Bishop (R-UT), Darren Soto (D-FL), Ruben Gallego (D-AZ) and Peter King (R-NY) said the Securing the National Supply Chain Act of 2020 secures the national stockpile supply chain by providing economically depressed areas, which are also known as distressed zones, with incentives in the United States and territories.
“The coronavirus pandemic has clearly shown us how the United States’ dependence on foreign jurisdictions for raw materials and products necessary for medical products and the nation’s security can put us at risk,” González-Colón said. “This legislation would prevent the shortage of supplies we are experiencing for future events, while at the same time contributing to the economic development of U.S. jurisdictions in need.”
The legislation provides a dollar-for-dollar credit against federal taxes to companies for fully 50 percent of wages, investments, and purchases made in the areas for manufacturing the needed medical supplies.
Additionally, there is a credit of 40 percent of wages and investments and 30 to 40 percent of local purchases in the case of other products, with the 40 percent applying for purchases from minority businesses.
“I am proud to co-sponsor this vital legislation that will not only help rebuild our domestic supply of critical health care supplies but also provide a much-needed boost to areas of the country that are economically underserved and full of untapped potential,” Shalala said. “This bill, which allows us to capitalize on regions’ skills and expertise, such as Puerto Rico’s robust history as a pharmaceutical and medical device manufacturing base, is long overdue and I’m proud to support it.”