Political Quotes

“I thank the gentleman from California for working on this bill and getting it reintroduced and, hopefully, today getting it passed. I thank him, too, for working with a number of us on certain provisions. When the Defense Production Act was initially enacted in 1950 in the aftermath of World War II and in the midst of the Korean war, it contained seven separate titles that granted broad authority to the President to control national economic policy. Following the Korean war, three of the Defense Production Act titles remain in effect and two of the act's titles need to be reauthorized. First, there is title I of the DPA, which authorizes the priority treatment of contracts and orders to meet urgent defense or readiness requirements. It does so by allowing the government to move to the head of a company's line of production and delivery schedule while indemnifying the company against breach of contract lawsuits by nongovernment entities. Title III is the other key provision of the law that Congress needs to reauthorize. This title empowers the President to support the private sector through the use of financial incentives, including loans, guarantees, purchase commitments, and grants to ensure that the U.S. domestic industrial base has the production capabilities that the President has determined are essential to our national security.…”