In a rare show of unity, Democratic and Republican senators agreed to pass a bill that will enable the U.S. to augment its research and production technologies. According to experts, such a course of action will empower the U.S. in countering the effects of a continuously expanding global competition, a tool specifically used by China in advancing its military and economic ambitions.
According to Senate Majority Leader and co-sponsor of the bill Senator Chuck Schumer, he believes that by surpassing the world in terms of innovations, production and competitions in future industries, the country will have the capability to outdo competitors.
What Does the Senate-Approved Bill Include?
The legislation authorizes around $250 billion to fund semiconductor manufacturing and development technologies, subsidies for robot makers and chipmakers, as well as for technology research. The global scarcity of computer chips is one of the important reasons why lawmakers are strongly pushing for this bill.
Furthermore, the bill also has several provisions specifically involving China and this includes prohibition of installing Chinese-developed apps like TikTok, in government devices and computer equipment. The legislation also blocks purchasing of drones manufactured and sold by Chinese state enterprises. The bill also authorizes the U.S. administration and its federal agencies to impose sanctions against Chinese organizations found involved in the theft of US intellectual property, or in launching cyber attacks against the U.S.
President Joe Biden praised the US Senate’s course of action, saying it’s high time for the government to invest in American innovation and workers. He said that the U.S. cannot fall behind because other countries have started investing in research and development in order to stay ahead in the 21s century global competition.