US Economy: Joe Biden Unveils New 'Buy American' Proposal 07/28/21 AT 6:49 PM Speaking at a Mack Trucks plant in Lower Macungie Township, Pennsylvania, President Joe Biden on Wednesday highlighted an initiative to increase the share of U.S.-made parts of products to qualify as "Made in America." Biden is seeking robust changes to the Buy American Act of 1933. The Buy American Act required the federal government to purchase goods determined to be 55% made in the United States. Biden seeks to immediately increase that threshold to 60%, then 65% by 2024, and eventually 75% by 2029. BUY AMERICA: President Biden announces significant proposed changes to the 1933 Buy American Act, including increasing the percent of a product purchased by the federal government that must be manufactured in America from 55% to 75% and heightened enforcement of the act pic.twitter.com/AV6RZHVDAS— Forbes (@Forbes) July 28, 2021