Tenney seeks to incentivize small manufacturing businesses

Posted 30 January 2023 at 11:54 am

Press Release, Congresswoman Claudia Tenney      

WASHINGTON, DC – Congresswoman Claudia Tenney (NY-24), a member of the Ways and Means Committee, reintroduced the American Innovation and Manufacturing (AIM) Act, which would work to provide financial assistance to investment companies that finance small manufacturing businesses.

This bicameral legislation has been introduced in the United States Senate by Senator Marco Rubio (R-FL).

The AIM Act works to provide additional capital to Small Business Investment Companies (SBICs) to leverage private capital to provide more patient and flexible financing to smaller and mid-sized manufacturers.

“By incentivizing and creating manufacturing jobs not only in Upstate and Western New York but across the country, we can work to rebuild and grow our nation’s economy,” said Congresswoman Tenney. “Many Americans rely on the essential goods and services from our smaller manufacturers, and the AIM Act will work to stimulate economic growth and opportunities for these businesses. I am honored to lead this bicameral legislation alongside Senator Rubio. Boosting support for our small manufacturing businesses remains a top priority for House Republicans.”

“The secret to America’s economic success has been our ability to make things and to innovate for the future,” said Senator Rubio. “When we do both, we create stable, well-paying jobs that power a strong country. This bill will help small firms engaged in manufacturing production secure the capital they need without the demand for immediate, outsized returns. The success of these companies is critical to confronting the threat posed by the Chinese Communist Party and to bringing good jobs back to America.”