Republican U.S. Rep. Brad Finstad and Democratic U.S. Rep. Angie Craig are backing a new bipartisan bill.
The legislation, introduced this month, would “incentivize investment in rural manufacturing through the creation of a forgivable loan program within the Small Business Administration,” according to a news release.
The support from Finstad and Craig could help the bill’s chances given the narrow majority Republicans have in the House. It already has the support of three other Republicans and an Alaska Democrat.
“The Investing in Rural Manufacturing Act encourages the best of American manufacturing to invest in rural America by creating new, good-paying jobs in our communities,” Finstad said in the news release. “This is an opportunity to boost our local economies while expanding our manufacturing base right here at home.”
Democrats control the U.S. Senate, ensuring the need for bipartisan buy-in to get changes into law. The effort is also the kind of bill Craig, a swing district Democrat, could use to emphasize a bipartisan style during the 2024 election cycle.
“Rural Minnesota manufacturers are critical to our regional and national economy, and our bipartisan legislation will give more rural businesses the support they need to get off the ground and create jobs,” Craig said in the release.