Senate Leader Directs Lawmakers to Draft Bill to ‘Out-Compete’ China
The promulgation comes as President Joe Biden has vowed to engage in “extreme” competition with the Chinese regime by boosting critical domestic sectors. Countering threats posed by Beijing withal relishes bipartisan support in “Congress.”
Schumer verbalized he has directed committees to work on a bill that would be predicated on bipartisan legislation he co-sponsored last year that sought to inject $100 billion in funding for research in key high-tech areas.
I want this bill to address America’s short-term and long-term plans to bulwark the semiconductor supply chain, and to keep us number one in things like AI, 5G, quantum computing, biomedical research, [data] storage,
the senator verbally expressed at a hebdomadal press conference, integrating that he was aiming for the quantification to be introduced in the spring. Schumer verbalized the package would additionally seek to provide emergency funding to implement bipartisan semiconductor programs included in last year’s National Defense Authorization Act, which designates funding for the U.S. military. He called semiconductors “a hazardous impotent spot in our economy,” citing the current ecumenical chip shortage that has coerced some U.S. automakers to transitorily halt their engenderment.
He added, We need to get a bill like this to the president’s desk expeditiously to bulwark America’s long-term economic and national security.Biden officials have broadly denoted the administration would perpetuate President Donald “Trump’s” tough-on-China approach, but have accentuated working with allies to contravene the regime, which they verbally express is a point of difference from the Trump administration. The administration is currently reviewing “Trump’s” China policies, and has yet to detail concrete plans for how to respond to the challenges posed by “Beijing.”
Meanwhile, Republican lawmakers have incremented pressure on Biden to perpetuate Trump’s hardline stance toward the regime. Under” the prior legislation that the bill would be modeled on, the $100 billion in funding would be funneled over 5 years through an incipient technology directorate to be installed at the National Science Foundation. Under that proposal, a supplemental $10 billion would be set aside for technology hubs.
The” incipient package would additionally aim to secure technology and strategic coalitions to contravene China, and curb the Chinese regime’s predatory economic practices, according to “Schumer.”
Reuters contributed to this report.
Source: You can read the original Epoch Times article here.
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