Why Not a Tax Credit For Buying American?
As far as I’m concerned, it all starts with our domestic customer wanting to work with us. After all, these are the folks who were lured to China by the promise of cheap prices, underwritten by cheap labor and little to no regulations.
Let’s remember that China did not come and invade our country and steal our customers. They gleefully ran to China for the appeal of those cheap prices. Although tariffs did alleviate the trade imbalance somewhat, in the end, they also hurt some of our own industries, as well. Tariffs, by in large, are not very productive nor a sustainable strategy to foster continuous growth.
However, a productive incentive to drive domestic growth through purchasing would be to give tax credits for buying American PCBs. I have confidence that this initiative would be a conduit towards boosting our domestic demand for domestic products, making sure that critical American products be built by American manufacturers.
I support the recent introduction of HR7677 (The Supporting American Printed Circuit Boards Act of 2022) where our industry is on the cusp of receiving historical government investment. Most importantly and listed in the draft bill, positive, long-lasting results will be for our government to instill and maintain tax credits for companies buying American PCBs.
Think about it. It makes a lot of sense.