Peters, Portman, Stabenow Introduce Bipartisan Legislation to Strengthen U.S. Supply Chains & Economic Security

WASHINGTON, DC – U.S. Senators Gary Peters (D-MI), Chairman of the Homeland Security and Governmental Affairs Committee, introduced a bipartisan bill to strengthen U.S. supply chains and domestic production capacity in ways that benefit homeland security. The legislation will assign the Department of Homeland Security’s existing Trade and Economic Security Council the role of identifying economic risks to the homeland, setting priorities for securing the country against identified risks, coordinating activity across DHS to meet those priorities, and proposing statutory and regulatory changes where necessary to meet those priorities. Peters was joined by U.S. Senators Rob Portman, Ranking Member of the Homeland Security and Governmental Affairs Committee (R-OH), and Debbie Stabenow (D-MI) to introduce the bill.

“Supply chain vulnerabilities, including a shortage of semiconductor chips that have hurt autoworkers and manufacturers across Michigan, are a serious national security and economic risk for our nation,” said Senator Peters. “This bipartisan bill will bolster the Department of Homeland Security’s efforts to strengthen our national and economic security by ensuring that states like Michigan can continue to manufacture critical supplies, create good-paying, union jobs, and serve as hubs of international commerce.”

“At a time when our country is facing shortages of everything to baby formula to semiconductors, we need dedicated experts in government to focus on how to strengthen our supply chains and domestic manufacturing capabilities,” said Senator Portman. “This bipartisan legislation will do that by codifying the new Assistant Secretary at DHS focused on economic security and supply chains to help formulate policy to mitigate economic risks to homeland security and strengthen our supply chains. I urge my colleagues to join us in supporting this bill.”

“There’s no question that strengthening our domestic manufacturing and food supply chains is critical to our national security. This bipartisan legislation is an important step to address critical shortages and breakdowns that will not only benefit our economy but our homeland security too,” said Senator Stabenow. 

The DHS Trade and Economic Security Council Act will direct the Assistant Secretary for Trade and Economic Security to formulate policy regarding economic risks to homeland security and serve as the DHS point person on the Committee on Foreign Investment in the United States (CFIUS), and the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector.

 

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