ABC News' Sunlen Miller reports:
Noting that the manufacturing industry was once the "furnace" that forged the middle class, and has been one of the hardest-hit sectors of the economy, President Obama today signed The Manufacturing Enhancement Act of 2010 into law.
"I’m signing a bill into law that will make it cheaper and easier for American manufacturers and American workers to do what they do best: build great products and sell them around the world," Obama said from the East Room of the White House.
The bill, passed in Congress last month, will reduce or suspend some tariffs that American companies must pay to import certain materials to manufacture their products, which the president said today "will significantly lower costs for American companies across the manufacturing landscape."
These companies, the president touted today, will be able to grow and hire more workers. He noted that some say the decline in the manufacturing industry is inevitable.
“I do not see it that way,” he rebutted, “The answer isn’t to stop building things, to stop making things; the answer is to build things better, make things better, right here in the United States. We will rebuild this economy stronger than before and at its heart will be three powerful words: Made in America.”
President Obama touted that the manufacturing sector has added 183,000 jobs so far this year, the strongest seven months of manufacturing job growth in more than a decade.
“While we have fought back from the worst of this recession, we’ve still got a lot of work to do. We’ve still got a long way to go. And I’m more determined than ever to do every single thing we can to hasten our economic recovery and get our people back to work.”