Both the House and Senate are out of session for Easter Recess. The United States Innovation and Competition Act (USICA) and the America COMPETES Act are currently in conference, meaning the House and Senate are working to reconcile the two bills into one compromise package that will pass in both chambers. These bills are intended to boost the United States’ competitiveness with China.
However, this messaging is misleading. Here is what you need to be worried about:
These bills instead focus on the misguided subsidies and woke initiatives rather than focusing on China.
Both bills subsidize the semiconductor industry to the tune of $52 billion, create new federal grant programs, and establish time-consuming, bureaucratic hurdles that could block industry leaders from doing business outside of the United States.
The America COMPETES Act includes funding for radical environmentalist programs: $8 billion for the United Nations Green Climate Fund, $2 million in foreign aid to combat climate change, and $6 million to NOAA to create a National Coral Reef Management Fellowship.
Despite record inflation, the package will spend an additional $250 billion.
CALL TO ACTION! If you do one thing today, please make sure to contact your representatives in the House and Senate at (202) 852-9734 to voice your disapproval of the United States Innovation and Competition Act (USICA) and the America COMPETES Act.