Biden to use Defense Production Act for vaccine production

President-elect Joe Biden expects to use the Defense Production Act to boost production of coronavirus vaccines, according to a member of Biden’s COVID-19 advisory team. The adviser, Celine Gounder, said Biden will invoke the law once he is sworn in next month. The law authorizes the president to increase the manufacturing output of critical items in a national emergency. “You will see him invoking the Defense Production Act. The idea there is to make sure the personal protective equipment, the test capacity, and the raw materials for the vaccines are produced in adequate supply so that those aren’t limiting steps in all of this,” Gounder told CNBC in an interview.