(LibertySociety.com) – On January 25, the House of Representatives introduced a $250-billion tech bill called the America Creating Opportunities for Manufacturing Pre-Eminence in Technology and Economic Strength (America COMPETES) Act of 2022. The introduction surprised many in the House and Senate who tried to put a bipartisan bill together for weeks.
The legislation includes $42 billion to address supply chain issues and $52 billion to help produce more semiconductors in the United States. The bill also addresses technology research and development advances, participation in science fields, innovation support, supply chain strength, immigration, and human rights violations.
Representative Frank Lucas (R-OK) stated it was unfortunate that House Speaker Nancy Pelosi (R-CA) filled the bill with “poison pills” instead of seeking a consensus.
The House’s version of USICA (the Senate’s global competition bill) — named the America Competes Act — is out, and it is long
A few quick takes:
– This bill is different from the Senate’s, expect Congress to spend a lot of time reconciling their differences b/w the two (1/3)
— Alayna Treene (@alaynatreene) January 25, 2022
Some legislators believe Democrats are pushing the bill to make up for the failed Build Back Better package so they can secure a win. Some Republicans feel by introducing the legislation without them, Pelosi blew her chance to get bipartisan support. However, Representative Ro Khanna (D-CA) claims the House Speaker garnered enough legislators to pass the measure and is confident more than 60 Senators will also sign off with some possible adjustments.
If successful, Representative Doris Matsui (D-CA) claimed the bill should lower the price of consumer goods, increase national security, and add new jobs for American citizens.
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