Posted on 05/20/2022 2:58:22 AM PDT by Libloather
House Speaker Nancy Pelosi (D-Calif.) said on Thursday that Congress could pass the “transformational” Competes Act before July 4, saying they hope to celebrate its passage before the holiday.
The Competes Act of 2022 would approve billions of dollars for programs to accelerate U.S. manufacturing of critical supplies and goods such as semiconductor chips, increasing U.S. might in sectors dominated largely by China.
The bill is also intended to address the supply chain disruptions still plaguing the nation, which have helped fuel high inflation.
At her weekly press conference, Pelosi said there is currently “a big lobbying effort” in Congress around the Competes Act, but she added she still hopes for passage of the bill before Independence Day.
“It’s a transformational bill for America that will make us independent, that will make us self-sufficient,” Pelosi said.
The bill is more than 2,000 pages long and will authorize a wide array of services, investments and programs intended to increase American-made goods and address supply chain woes that shook the economy during the pandemic.
At its heart, the Competes Act will create a $52 billion fund via the Chips for America Act to invest in U.S.-produced semiconductor chips; authorize $45 billion to bolster American supply chains; and create new programs and research centers to help advance scientific research into cutting edge technologies.
(Excerpt) Read more at thehill.com ...
Wanna bet Deep State will slide in the same RCV provisions that were in HR1 in this bill...
Just what we need - mote stimulus money when inflation is the worst it has been in 40 years. Democrats always want more of the same “solution” that caused the problem in the first place.
Bingo. I can only add how about allowing investments to be recovered more generously.
I can’t imagine they wouldn’t come up with something to displace American workers - that has to be a key part of this hidden somewhere.
Like all of the Democrat bills out there, sounds great on paper but the devil is in the details.
First: This is from "The Hill", so it is written to favor the LEFT, as there are very few, if any, 'D'onkeys that are not in that paddock!
Second: A porkulous bill, by any name you choose, still squeals as it is front-loaded with the bacon. Yes, it still has to pass the Senate BUT, this is an election year and the 'D's are counting on this to help their chances in November!
Not sure about the final version. Nancy’s version would’ve let Chinese nationals, partly paid by the Chinese military, to absolutely dominate the U.S. tech labor market. Every trained Chinese tech worker who wants could come to America.... tens of millions!
Exactly. Without reading, I can tell it’s a bad idea at best, a gang give a away and corruption that will impede start ups to help whomever bribed Democrats most likely
” billions of dollars for programs”
Because free enterprise and competition are never as good as a government spending binge.
Don’t forget 10% for the big guy.
As negotiations continue on the COMPETES Act (anticompetition with China legislation), House Democrats and outside groups are pushing for immigration provisions that would attract high-skilled workers and boost critical sectors of the economy. The House-passed bill contains a provision that would allow more immigrants who have a doctorate degree in science, technology, engineering, or math to get green cards to live and work in the U.S. The Senate bill does not include that provision. Democrats say the provisions to exempt STEM advanced degree holders from annual limits on green cards could attract more international students at a time of declining enrollment and help high-skilled immigrants from countries like India and China avoid lengthy visa application backlogs. There are major partisan divides over the immigration provisions.
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Solyndra on steroids!
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Would approve billions of dollars for programs to accelerate U.S. manufacturing of critical supplies.
Guess who gets the first stock options go ahead take a guess.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Isn’t that what President Trump tried to do?🤔
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