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President Joe Biden on Wednesday is due to tout American manufacturing in a visit to a truck plant in Pennsylvania, as pressure is rising in Washington for a deal on infrastructure.
Biden is scheduled to speak Wednesday afternoon in Macungie, Pa., at a plant that produces Mack trucks, and is expected to discuss a new proposal to boost U.S. content in federal procurement policy. The administration is proposing that products bought under the “Buy American” program have at least 60% of the value of components made in the U.S., up from the current 55%. It would later rise to 75%.
Biden’s visit comes as a bipartisan group of senators in Washington, D.C., are expressing optimism they are close to reaching a deal on a roughly $1 trillion infrastructure
PAVE,
package. The spending on roads, bridges and other public works is among Biden’s top priorities, and Senate Majority Leader Chuck Schumer has said lawmakers could work through the weekend to reach a deal.
Democrats, reported the Hill, are turning up pressure on the group of negotiators to finalize an agreement as they face a growing time crunch heading toward August.
COMP,
were mixed at the open on Wednesday, as investors awaited a monetary-policy update from the Federal Reserve at 2 p.m. Eastern.
