An expansive bill aimed at reinvigorating America's technological footprint to counter China passed the Senate on Tuesday and now heads to the House, where it faces a competing bill and somewhat murky future.
The bill would add funding for research and technology manufacturing to boost US competitiveness, strengthen national security and grow the economy.
WASHINGTON – An expansive bill aimed at reinvigorating America's technological footprint to counter China passed the Senate on Tuesday and now heads to the House, where it faces a competing bill and somewhat murky future.The legislation, called the Innovation and Competition Act, largely drew bipartisan support with the promise of bolstering America's competitive edge by investing billions of dollars in scientific and technological innovations – including artificial intelligence, computer chips and robotics.
It passed 68-to-32 after some drama a few weeks ago of hours of behind-the-scene negotiations, a flurry of last-minute amendments and an all-nighter of negotiations. Ultimately, Senate leaders canned it until the lawmakers returned from their Memorial Day recess after a compromise could not be reached.
President Joe Biden praised passage of the bill making generational investments in American workers. "This legislation addresses key elements that were included in my American Jobs Plan, and I am encouraged by this bipartisan effort to advance those elements separately through this bill," Biden said in a statement. "It is long past time that we invest in American workers and American innovation." headtopics.com
Senate Majority Leader Chuck Schumer, D-N.Y., called the bill one of the most significant pieces of legislation passed in a long time, with a huge impact on the American economy and jobs."It’s the largest investment in scientific research and technological innovation in generations," Schumer said. "It sets the United States on a path to lead the world in the industries of the future."
More:China represents 'unparalleled,' 'severe' threat, US intelligence officials warnIn April, U.S. intelligence officials cast China, the world’s second-largest economy, as an "unparalleled" security threat, warning of Beijing's increasing efforts to suppress its regional adversaries and expand its military might while racing to achieve technological superiority across the globe.
Story continuesThe Senate's action highlights a rare bipartisan consensus in Congress that the U.S. needs a more coherent strategy to respond to China's rise as a global power.The bill would boost funding for research and technology manufacturing to increase America's competitiveness, strengthen national security and grow the economy.
Sen. Todd Young, R-Ind., co-author of the legislation, singled out the bill's passage as a mark of unity."I’m proud the Senate voted to advance this bill to outcompete China and invest in the U.S.," Young said in a statement. "Let history record that, at this moment, we stood united." headtopics.com
Schumer said Tuesday he has already spoken with House Speaker Nancy Pelosi, D-Calif., and expects to reach a compromise between the chambers to send to President Joe Biden.“I’m quite certain that we will get a really good product on the president’s desk," Biden said.
What does the Senate bill do?The legislation, spearheaded by Schumer and Young, would pump more than $200 billion into U.S. scientific and technological innovation over the next five years.The bill, which originally began as the Endless Frontier Act, was expanded and renamed the U.S. Innovation and Competition Act by Schumer in May. He joked Tuesday that the "frontier" name made it sound like "covered wagon" legislation.
The broadened bill establishes a new directorate for technology and innovation at the National Science Foundation to ensure $100 billion of funding is funneled to the development of artificial intelligences, semiconductors, robotics and high-performance computing.
Schumer said Washington has let U.S. competitiveness "lag" compared to China, particularly when it comes to technological innovation."We’ve become far too complacent, and the United States commits less than 1% of its GDP towards basic scientific research," he said. "That's the fault of government, but it's also the fault of the private sector. The world is so competitive and global competition is so severe, companies feel they can't invest as much in the kind of research that might pay off profits five or ten years down the road." headtopics.comRead more: Yahoo News »
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US Senate okays ambitious innovation plan to counter ChinaUS Senate votes 68-32 to approve a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology, as Congress increasingly seeks to take a tough line against Beijing
U.S. Senate set to pass sweeping bill to address China tech threatThe U.S. Senate on Tuesday is set to approve a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology, as Congress increasingly seeks to take a tough line against Beijing. Dr. Luc Montagnier reveals how Covid-19 is a lab accident He was awarded the 2008 Nobel Prize in Medicine for the identification AIDS.He currently works at University in China The accident was said to have taken place in the Wuhan National Biosafety lab wrong threat I think the whole threat thing is all to do with not allowing competition, then turning around and saying “oh that was part of the competition “. I’m skeptical about the motive.
Senate passes bipartisan bill to boost tech competitiveness with ChinaSenate votes 68-32 to pass bipartisan legislation to boost science and technology research for the U.S. to better compete with China ; bill moves to the House, where its future is unclear. Bill would commit nearly $250B to promote emerging technologies in the US that China's government is working to promote as well, including artificial intelligence, quantum computing, computer chips, the lithium batteries used in smart devices and electric vehicles, and robotics.
Senate Passes $250 Billion Bipartisan Bill To Boost Tech Competitiveness With ChinaThe bill would offer up more than $50 billion to boost U.S. semiconductor manufacturing amid a global shortage, and increase federal spending on science and technology research. China became competitive because the GQP subsidized the expatriation of manufacturing to China and other slave-wage countries. So what, they're going to institute below-subsistence level wages in the US, and give more tax cuts to the rich, right? nic__carter CaitlinLong_ is this the US’ attempt to steal the El Salvador limelight?
Senate Passes Bipartisan Bill To Boost US Tech Industry, Counter RivalsThe 68-32 vote for the bill demonstrates how confronting China economically can unite both parties in Congress. But saving our democracy doesn’t. Well isn’t that cute
Senate passes bill to boost US tech industry, counter rivalsWASHINGTON (AP) — The Senate overwhelmingly approved a bill Tuesday that aims to boost U.S. semiconductor production and the development of artificial intelligence and other technology in the face of growing international competition, most notably from China . Can't have voting rights or infrastructure but yes to boosted stocks. All it would Take is 2 Republican Senators to DO THE RIGHT THING VOTE YES on S.1 Make Sen_JoeManchin SenatorSinema IRRELEVANT What's REALLY Going to MATTER in the LONG RUN? What LeaderMcConnell Thinks about You or What HISTORY Thinks? It's YOUR LEGACY DO THE RIGHT THING The 25 richest Americans including Jeff Bezos, Mike Bloomberg and Elon Musk paid relatively little — and sometimes nothing — in federal income taxes between 2014 and 2018, according to an analysis of IRS filings by ProPublica.