American businesses and consumers face severe effects from the nation’s supply chain shortage. Chamber President and CEO Suzanne Clark joined CEOs of several major companies, the Vice President and other senior administration officials, and other stakeholders at the White House yesterday to address supply chain bottlenecks.
Why it matters: Ports with hundreds of ships waiting to dock, warehouse space shortages, and the lack of rail and highway freight capacity are leading to empty shelves and higher prices.
Our take: “American companies are stepping up to combat the bottlenecks and delays, and this will make a crucial difference as we seek to tackle this problem head-on,” said Clark. “This supply chain crisis is hurting businesses and consumers alike, leading to inflation and shortages of key supplies. Coupled with massive labor shortages, this is a major threat to our fragile economic recovery and long-term competitiveness.”
Be smart: The supply chain crisis highlights the importance of investing in our nation’s infrastructure. Congested ports and railways as well as crumbling roads and bridges make it harder for our economy to grow.
- The infrastructure bill currently in the House of Representatives would invest $17 billion in seaports, $25 billion in airports, $66 billion in railways, and $110 billion in roads, bridges, and other infrastructure critical to the flow of commerce.
Bottom line: Yesterday’s “White House meeting underscores the urgency to strengthen American supply chains to promote economic security, national security, and jobs here at home,” said Suzanne Clark. “We have not a moment to waste.”