Senate passes chips and science bill aimed at better competing with China

[mystery-ak]

 Senate passes chips and science bill aimed at better competing with China
by Alexander Bolton - 07/27/22 1:16 PM ET

The Senate voted with a large bipartisan majority Wednesday to pass a $280 billion bill to subsidize the domestic chip manufacturing industry and provide tens of billions of dollars for scientific research to keep the United States’ technological edge in the global economy. 

The 64-33 vote caps more than a year of negotiations over the bill, which stalled for months in the House because of progressive Democrats’ objections to trade-related and other provisions in the bill, such as language to provide security safeguards for technological research.

The bill, which is expected to have enough votes to pass the House, would be one of the biggest legislative accomplishments of the Congress and would be a boon to the nation’s high-tech manufacturing industry. 

It is designed to reduce U.S. reliance on Chinese- and foreign-manufactured chips in military hardware and other products. The revelation that the Pentagon waived restrictions on Chinese-manufactured components in weapons such as the F-35 fighter caused controversy several years ago. 

It will provide $54 billion in total appropriations for chips and public wireless supply chain innovation, including $39 billion in financial assistance to build, expand and modernize domestic semiconductor facilities and $11 billion for Department of Commerce research and development.

It would also provide $81 billion to the National Science Foundation (NSF), including $20 billion for an NSF tech directorate, and create a 25 percent tax credit for investments in semiconductor manufacturing. 

Senate Majority Leader Charles Schumer (D-N.Y.), who led the negotiations on the bill, hailed it as an “historic and momentous” achievement. 

more
https://thehill.com/homenews/senate/3576405-senate-passes-chips-and-science-bill-aimed-at-better-competing-with-china/

[Killer Clouds]

What a bunch of idiots we have elected to destroy this country.

[DefiantMassRINO]

As far as chip foundries and fabricators go, we really need to compete with Taiwan.

[Killer Clouds]

As far as chip foundries and fabricators go, we really need to compete with Taiwan.

The taxpayers shouldn't be paying for it.

[mountaineer]

Money going to corporations that fund the DNC, pretty much.

[Kamaji]

Money going to corporations that fund the DNC, pretty much.

I was wondering what the democrats' ulterior motive was here.

[IsailedawayfromFR]

What a bunch of idiots we have elected to destroy this country.

Yep, money diverted to more math and sciences in the classrooms instead of for hosting drag queen contests seems would be far better spent

[DefiantMassRINO]

Taxpayers have to subsidize private enterprise in America because government inserts too many costly obstacles that make it too expensive for private funds alone.

[Weird Tolkienish Figure]

The taxpayers shouldn't be paying for it.

I've thought about this issue a lot... when we compete against other nations that subsidize, not sure what choice we have. 'Spose I'd prefer drastic tax cuts.

Anyway, it's now a matter of self-preservation. All bets are off when it comes to national defense. Remember trading Japan scrap metal in the 30's? Chips are not optional.

No easy answers. I don't claim to have any.

[Killer Clouds]

Taxpayers have to subsidize private enterprise in America because government inserts too many costly obstacles that make it too expensive for private funds alone.

So taxpayers are forced to pay private companies that give money back to DCP campaigns. When these companies make huge profits are they giving any money back to the taxpayers before paying their investors?

[Killer Clouds]

I've thought about this issue a lot... when we compete against other nations that subsidize, not sure what choice we have. 'Spose I'd prefer drastic tax cuts.

Anyway, it's now a matter of self-preservation. All bets are off when it comes to national defense. Remember trading Japan scrap metal in the 30's? Chips are not optional.

No easy answers. I don't claim to have any.

The government shouldn't be picking winners and losers in any business forum especially when congressmen and their families are insider trading on the outcomes. Anything the government gets involved with goes to sh!t. If the government wants to help businesses they should eliminate over burdensome regulations and  laws.

[DB]

The leading edge high tech chips are made in Taiwan.

We're already in the process of building new chip foundries in the US 24/7 to get those same capabilities here ASAP. But it takes years.

It is a national security issue.

If China were to invade Taiwan much of the high tech industry would be suddenly shut down completely bring it to a halt. It would be Armageddon in technology and would rapidly spread.

[Right_in_Virginia]

Greg Price
@greg_price11

What happened here is Mitch McConnell threatened to kill the CHIPS bill if Schumer and Manchin revived Biden's Build Back Better reconciliation package.

CHIPs passed a few hours ago and Schumer and Manchin proceeded to revive reconciliation.

What a master strategist that guy is

5:56 PM · Jul 27, 2022·Twitter Web App

[IsailedawayfromFR]

The leading edge high tech chips are made in Taiwan.

We're already in the process of building new chip foundries in the US 24/7 to get those same capabilities here ASAP. But it takes years.

It is a national security issue.

If China were to invade Taiwan much of the high tech industry would be suddenly shut down completely bring it to a halt. It would be Armageddon in technology and would rapidly spread.

Good luck with that.  We are getting closer to that same Armageddon in energy as due to leftists' actions we have not had a new refinery built in this country since 1977 as refined products usage has greatly increased.

[DB]

Good luck with that.  We are getting closer to that same Armageddon in energy as due to leftists' actions we have not had a new refinery built in this country since 1977 as refined products usage has greatly increased.

They're solving the chip shortage issue... With no electricity who needs chips...

[Cyber Liberty]

As far as chip foundries and fabricators go, we really need to compete with Taiwan.

Taiwan Semiconductor Manufacturing Company will be picking up a bunch of this cash because they have Foundries in the US.

[DefiantMassRINO]

Well, whose fault is it that American corporations and Governments outsourced and offshored semiconductor design, prototyping, fabrication, and manufacturing?

Whose fault was it to allow the Taiwanese government to capture market share via gov't subsidies?

American corporations and governments have been asleep at the globalist wheel for the past 30 years.

Canadian companies (Enbridge, TC Pipelines) own many of America's energy pipelines.

Brazilian and Chinese companies own much our domestic meat processing industry.

American executives and politicians have been financially gaining during the great hollowing out of the US economy.

[bilo]

Well, whose fault is it that American corporations and Governments outsourced and offshored semiconductor design, prototyping, fabrication, and manufacturing?

Whose fault was it to allow the Taiwanese government to capture market share via gov't subsidies?

American corporations and governments have been asleep at the globalist wheel for the past 30 years.

Canadian companies (Enbridge, TC Pipelines) own many of America's energy pipelines.

Brazilian and Chinese companies own much our domestic meat processing industry.

American executives and politicians have been financially gaining during the great hollowing out of the US economy.

The good news is that the process of deglobalization is accelerating and the USA is in a great position to thrive. Getting high end chips produced here is smart. Multi national corps have started the process of moving their supply chains to more dependable locations and I think in the end we will see most of our goods produced at home or in our largest trading partner's country, Mexico.

The last obstacle to overcome are the leftists and I think we are seeing this starting.

[DefiantMassRINO]

The lefty NIMBY's are happy with everything moving to Mexico because that is still someone else's backyard.

Their plan is to eradicate the deplorable class by sending all their jobs offshore.

[bilo]

The lefty NIMBY's are happy with everything moving to Mexico because that is still someone else's backyard.

Their plan is to eradicate the deplorable class by sending all their jobs offshore.

I think you're right that the "soy boy" and "Karen" crowd look at the deplorables as less important than them. However, they will lose in one of two ways. They will either be totally destroyed at the ballot box or the country will divorce. I think it will be the former. They have already shown they can't win honest elections  and the idiocy of diminishing our food supply will only open the eyes of more people how shortsighted and stupid these leftists are.

Under the leftist regulatory tyranny we have crippled our ability to produce energy, food, and goods. They have made it harder for businesses to grow. They have made it harder for parents to get their children a quality education. It's why we see conservatives now starting to offer concrete ways to end civil service protections. It's time to take back our govt.