WASHINGTON (Washington Insider Magazine) -In an effort to counter China’s expanding economic dominance, the House enacted comprehensive measures on Friday that will spend billions of dollars in American industry and scientific research.
The bill was supported 222-210 on a party-line vote.
Rep. Stephanie Murphy, a Democrat, voted against the bill, citing “problematic, poorly-vetted elements” referring to trade in a statement.
Rep. Adam Kinzinger, a Republican, was the lone Republican who voted “yes” with Democrats.
The law was passed nearly 8 months following the Senate passing its own version of the bill last year. According to ABC NEWS, the two chambers will now meet in the session over the bill to integrate the legislation into a single final language which must clear both chambers once again before reaching President Joe Biden’s desk.
The America COMPETES Act will ensure that America is the world leader in innovation, economic strength and manufacturing that can out-compete any country, House Speaker Nancy Pelosi remarked ahead of the vote on Friday.
House leaders are pushing for quick action on the negotiating process, saying their objective is to deliver it to Biden as early as possible so he may celebrate the victory during his State of the Union speech on March 1st.
The House bill proposes to spend $52 billion over five years to fund semiconductor research, manufacture, and design. This initiative comes amid a global scarcity of semiconductors, often known as chips, which are required for the manufacturing of automobiles, smartphones, and medical devices.
Biden also stated that this bill intends to reduce the fiscal burden of economic inflation, which many Americans are suffering due to rising food and gas prices.
The plan also allocates $45 billion in loans and grants over the next six years to address supply chain challenges.
The bill also contains a number of clauses aimed at putting diplomatic pressure on China’s leadership over its violations of human rights against Uyghurs in the Xinjiang region.
While Republicans have also been overwhelmingly supportive of the bill in recent times, House Republican officials urged members to vote no on Friday, claiming that the bill is “extremely weak” on China.
