Roe Supports Reauthorization of the Defense Production Act
House & Senate pass important legislation for our national defense
WASHINGTON, DC – The U.S. House of Representatives passed S. 1677, which would extend the Defense Production Act for five years, through September 30, 2014. This bipartisan legislation would also require each federal agency to issue final rules establishing standards and procedures by which they use their priority and allocation authority to promote the national defense. Agency heads would further be required to consult with each other to help develop a consistent federal priorities and allocations system.
U.S. Congressman Phil Roe, M.D. (TN-1), a supporter of this legislation, made the following statement:
“I am glad to support important legislation that provides a mechanism for the government to acquire materials necessary for national defense. This legislation also provides for emergency readiness to alleviate a natural or man-made disaster in order to meet the needs of affected communities and keep our economy strong.”
S. 1677 passed the Senate and the House. Now it will go to the President’s desk to be signed into law.
In addition, the bill authorizes $750 million for a manufacture loan guarantee program for U.S. manufacturers which provide products deemed critical to national security. S. 1677 includes several requirements for such loans, including that they must be authorized by the President and would be provided by private institutions, though guaranteed by a federal agency.
S. 1677 would establish a Defense Production Act Committee to advise the President on the effective use of the authority under the Act. This committee would have an Executive Director appointed by the President and would report to Congress.