CNBC: Senate passes $250 billion bipartisan tech and manufacturing bill aimed at countering China
* The Senate on Tuesday passed the U.S. Innovation and Competition Act, a $250 billion bill aimed at countering China’s technological ambitions.
* The scope of the bill, the final product of at least six Senate committees and almost all members of the chamber, could be one of the last major bipartisan bills of 2021.
* Among its many provisions, the bill provides $52 billion to fund the semiconductor research, design, and manufacturing initiatives.
* President Joe Biden applauded the bill’s passage: “As other countries continue to invest in their own research and development, we cannot risk falling behind.”
The Senate on Tuesday passed one of the largest industrial bills in U.S. history in a bipartisan effort to ensure the U.S. remains competitive with China as one of the globe’s technological powerhouses.
The bill, which passed the chamber 68-32, commits roughly $250 billion in funding for scientific research, subsidies for chipmakers and robot makers, and an overhaul of the National Science Foundation.
The scope of the bill, the final product of at least six Senate committees and almost all members of the chamber, reflects the many fronts in the U.S.-China rivalry.
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WNU Editor: I hope that this is not one of those "more taxpayer money to large corporations" type of deal where the intention is good, but the money is spent elsewhere.
More News On The US Senate Passing A Massive $250 Billion Bipartisan Tech And Manufacturing Bill To Counter China
US Senate approves $50bn boost for computer chip and AI technology to counter China -- The Guardian
Senate passes massive bipartisan bill to combat China's growing economic influence -- CNN
Senate passes bill to boost US science and tech innovation to compete with China -- USA Today
Senate passes sweeping China competition bill in rare bipartisan vote -- Axios
Here's What's in the Senate's Massive Bill Funding the Tech War With China -- Gizmodo
Five key parts of the Senate's sweeping China competitiveness bill -- The Hill
1 comment:
Democrats who aided Fauci and his cronies avoid answering for Chinas unleashing bio warfare against the world? They wrote this bill? It’s for sure a boondoggle.
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