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WASHINGTON (AP) — House Democrats are set to pass legislation on Friday, in which they say positions the United States can compete with better. Chinese on the economic and global stage by strengthening the local semiconductor industry, supporting strained supply chains and fostering international alliances.
criticize Chinese It has become a bipartisan playbook in Washington, but Republicans view the measure as “toothless” and insufficient to hold the country accountable for a host of economic and human rights actions.
The nearly 3,000-page bill includes massive investments designed to boost semiconductor production in the U.S. Big-ticket items include nearly $52 billion in grants and subsidies to help the semiconductor industry and $45 billion to strengthen supply chains for high-tech products.
But Democrats also addressed other priorities, raising the GOP’s concerns about the cost and scope of the bill.
It includes $8 billion for a fund that helps developing countries adapt to climate change; $3 billion for facilities that will make the US less dependent on Chinese solar components; $4 billion to help communities with unemployment significantly higher than the national average; and $10.5 billion for states to stockpile drugs and medical supplies.
That’s just a small part of the package that D-Calif., Speaker of the House of Representatives Nancy Pelosi, said is necessary to ensure “America can compete with any nation today and for decades to come.”
The bill gives Democrats a chance to address voters’ concerns about the economy at a time when shortages of computer chips are leading to higher prices for cars, electronics and medical devices. Republicans, who have been beating Democrats for months over rising inflation, say the bill has little to do with winning economic competition. Chinese and spends taxpayer dollars on environmental initiatives and other useless programs.
“This bill is actually a long list of progressive dream policies that have nothing to do with it. Chinese never,” said Rep. Michelle Fischbach, R-Minn.
Commerce Minister Gina Raimondo met with Democratic House lawmakers on Wednesday to discuss the bill. American manufacturing has been in decline for more than three decades, leading to loss of business and know-how, she said.
“In this slow process of atrophy, we have become incredibly dependent on countries around the world,” said Raimondo. “And so, what this bill says is to stop the decline.”
One of the biggest flashpoints is the $8 billion law that will help developing countries reduce their emissions and tackle climate change. President Barack Obama promised $3 billion in the fund, but former President Donald Trump withheld $2 billion of it.
Republican Michael McCaul, the top Republican on the House Foreign Affairs Committee, called it an “irresponsible UN bribe fund”, which has already provided the United States with at least $100 million. Chinese.
Meanwhile, America’s share of global semiconductor production has steadily eroded from 37% in 1990 to about 12% now. The Biden administration and lawmakers are trying to reverse this trend, which industry officials say is driven by foreign competitors receiving significant government subsidies.
The pandemic has strained the supply chain for chips. The Department of Commerce released a report last week and found that the median inventory of some semiconductor products fell from 40 days in 2019 to less than five days in 2021. The report also said that stakeholders do not think the problem will go away in the next six months. . The administration cited the findings while urging Congress to take action.
tensions with Chinese reflected in the legislation. The bill directs the president to submit a report to Congress on the most likely source of the virus, the level of confidence in this assessment, and challenges such as the assessment, in reference to concerns about the origins of COVID-19.
Republicans dismissed the provision as “no independent investigation, no sanctions, no penalties.” They want an elected committee of lawmakers to investigate the origins of COVID-19. “Instead of taking action to get real accountability, he will ask them for a report,” said Kevin McCarthy, the Republican leader of California.
Another provision would be subject to lower cost products. Chinese to tariffs. Currently, imports worth less than $800 are exempt from expedited processing and tariffs. The bill removes the threshold for some countries in particular Chinese.
“The investments this bill has made in America – semiconductor manufacturing, supply chains, apprenticeships – allow America to compete effectively with other countries. Chinese“If you’re serious about competing,” said Raimondo. ChineseYou should vote yes to that.”
The Senate passed the computer chips bill by a vote of 68-32 in June, representing a rare case of bipartisanship in major laws. If the House bill passes, negotiators will try to find a compromise that both houses can accept, but it is unclear if they will be able to do so before the midterm elections. This deprives the Biden White House of any chance to make progress on an important economic issue.
Raimondo called for quick negotiations with the Senate after the House passed the bill. Whatever comes out will need the support of 10 Republicans in the 50-50 Senate to become law. He expressed confidence that a compromise could be found.
“There are no irreconcilable differences, I would say that,” said Raimondo.
“We’re going to send House Republicans a much better voting option over the next few months,” said Senator Todd Young, who worked with Senate Majority Leader Chuck Schumer on the legislative version of the Senate.
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