Congressman Pence: "Relying on Foreign Supply Chains Jeopardizes Our Economic Security."

Press Release

U.S. Congressman Greg Pence (IN-06) participated in the House Energy and Commerce Subcommittee on Consumer Protection and Commerce hearing entitled, "The Fiscal Year 2022 Department of Commerce Budget." Rep. Pence discussed the perils foreign adversaries can pose for Hoosier manufacturers, and highlighted his bipartisan legislation that seeks to make the U.S. more competitive in attracting Foreign Direct Investment.

Congressman Pence's full remarks and questions for the Secretary of Commerce are transcribed as prepared for delivery below.

Thank you Chair Schakowsky and Ranking Member Bilirakis for holding this hearing and thank you Secretary Raimondo for joining us to discuss the Commerce Department's Fiscal Year 2022 Budget Request.

Before I get started, Madam Secretary, I wanted to mention that you and Chair Pallone mentioned all the Italians in your area -- well I just want to say that all the Italian women in my family married us Irish-guys.

You can do with that whatever you think!

Historically, the Hoosier State has been a leader in American manufacturing.

In 1919, Clessie Cummins founded Cummins Engine Company in Columbus, Indiana.

I have lived in Columbus my entire life, and nearly every family, my own included, has some connection to the company that has helped build and grow Columbus, Indiana.

This is exactly what we mean when we discuss company towns.

Today, manufacturing accounts for almost 17 percent of our workforce and contributes over $100 billion to the state economy annually.

We are proud to have two cutting edge international automobile manufacturing plants in Indiana's 6th District -- Honda in Greensburg and Toyota in Columbus.

Across the state, medical manufacturers like Hill-Rom in Batesville, Cook Group, and Eli Lily take advantage of the state's longstanding manufacturing expertise.

Unfortunately, good paying manufacturing jobs have been shipped overseas, leaving Hoosiers with fewer options to provide for their family.

Aggressive behavior and unfair practices from countries like China have devastated opportunities for domestic manufacturing, creating a heavy reliance on authoritative regimes for critical supply chain materials.

As we have discussed today, the semiconductor chip shortage is a serious threat impacting workers right now.

Just last week, an auto manufacturing plant in Northeast Indiana ended a two-week furlough as a direct result of the chip shortage.

This is just the latest example of how relying on foreign supply chains can jeopardize our economic security.

Secretary Raimondo, In Indiana, Foreign Direct Investment fuels innovation and enhances our ability to attract investment from around the world.

Over 870 international companies employ more than 200,000 Hoosiers -- 56 percent of which are in the manufacturing sector.

Earlier this year, I introduced the bipartisan Global Investment in American Jobs Act with Chairman Bobby Rush that seeks to make the U.S. more competitive for foreign capital investment.

My question: Madam Secretary, will you commit to working with me to advance this legislation?

SECRETARY RAIMONDO: "Yes, I will, absolutely. Foreign Direct Invest matters. It creates jobs. In fact this week, I'm working on hosting the Select USA Summit which is designed to attract Foreign Direct Investment in America so I would look forward to doing that. By the way, you said the exact reason you got into Congress was to get these jobs back. That's exactly why I took this job when Biden called me. My whole family grew up in manufacturing -- my dad use to say, "it's not just a job, it's a good job -- a dignified job -- a job you can get without a four year college degree. So that's why I get into this business. As a side note, my husband is Irish, and I'm pretty sure he married me because of my cooking."

Absolutely no surprise. Well, thank you for your perspective -- and Madam Chair I yield back.

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