RabzonKhan
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Senate passes bill to boost U.S. tech industry, counter rivals
By Associated Press 6/8/2021
ASSOCIATED PRESS
Senate Majority Leader Chuck Schumer, D-N.Y., spoke to reporters at the Capitol in Washington. The Senate overwhelmingly approved a bill today 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.
WASHINGTON >> The Senate overwhelmingly approved a bill today 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.
The 68-32 vote for the bill demonstrates how confronting China economically is an issue that unites both parties in Congress. That’s a rarity in an era of division as pressure grows on Democrats to change Senate rules to push past Republican opposition and gridlock.
The centerpiece of the bill is a $50 billion emergency allotment to the Commerce Department to stand up semiconductor development and manufacturing through research and incentive programs previously authorized by Congress. The bill’s overall cost would increase spending by about $250 billion with most of the spending occurring in the first five years.
Supporters described it as the biggest investment in scientific research that the country has seen in decades. It comes as the nation’s share of semiconductor manufacturing globally has steadily eroded from 37% in 1990 to about 12% now, and as a chip shortage has exposed vulnerabilities in the U.S. supply chain.
“The premise is simple, if we want American workers and American companies to keep leading the world, the federal government must invest in science, basic research and innovation, just as we did decades after the Second World War,” said Senate Majority Leader Chuck Schumer, D-N.Y. “Whoever wins the race to the technologies of the future is going to be the global economic leader with profound consequences for foreign policy and national security as well.”
Senate Minority Leader Mitch McConnell, R-Ky., said the bill was incomplete because it did not incorporate more Republican-sponsored amendments. He nonetheless supported it.
“Needless to say, final passage of this legislation cannot be the Senate’s final word on our competition with China,” he said. “It certainly won’t be mine.”
Senators slogged through days of debates and amendments leading up to today’s final vote. Schumer’s office said 18 Republican amendments will have received votes as part of passage of the bill. It also said the Senate this year has already held as many roll call votes on amendments than it did in the last Congress, when the Senate was under Republican control.
While the bill enjoys bipartisan support, a core group of GOP senators has reservations about its costs.
One of the bill’s provisions would create a new directorate focused on artificial intelligence and quantum science with the National Science Foundation. The bill would authorize up to $29 billion over five years for the new branch within the foundation with an additional $52 billion for its programs. Read more
By Associated Press 6/8/2021
ASSOCIATED PRESS
Senate Majority Leader Chuck Schumer, D-N.Y., spoke to reporters at the Capitol in Washington. The Senate overwhelmingly approved a bill today 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.
WASHINGTON >> The Senate overwhelmingly approved a bill today 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.
The 68-32 vote for the bill demonstrates how confronting China economically is an issue that unites both parties in Congress. That’s a rarity in an era of division as pressure grows on Democrats to change Senate rules to push past Republican opposition and gridlock.
The centerpiece of the bill is a $50 billion emergency allotment to the Commerce Department to stand up semiconductor development and manufacturing through research and incentive programs previously authorized by Congress. The bill’s overall cost would increase spending by about $250 billion with most of the spending occurring in the first five years.
Supporters described it as the biggest investment in scientific research that the country has seen in decades. It comes as the nation’s share of semiconductor manufacturing globally has steadily eroded from 37% in 1990 to about 12% now, and as a chip shortage has exposed vulnerabilities in the U.S. supply chain.
“The premise is simple, if we want American workers and American companies to keep leading the world, the federal government must invest in science, basic research and innovation, just as we did decades after the Second World War,” said Senate Majority Leader Chuck Schumer, D-N.Y. “Whoever wins the race to the technologies of the future is going to be the global economic leader with profound consequences for foreign policy and national security as well.”
Senate Minority Leader Mitch McConnell, R-Ky., said the bill was incomplete because it did not incorporate more Republican-sponsored amendments. He nonetheless supported it.
“Needless to say, final passage of this legislation cannot be the Senate’s final word on our competition with China,” he said. “It certainly won’t be mine.”
Senators slogged through days of debates and amendments leading up to today’s final vote. Schumer’s office said 18 Republican amendments will have received votes as part of passage of the bill. It also said the Senate this year has already held as many roll call votes on amendments than it did in the last Congress, when the Senate was under Republican control.
While the bill enjoys bipartisan support, a core group of GOP senators has reservations about its costs.
One of the bill’s provisions would create a new directorate focused on artificial intelligence and quantum science with the National Science Foundation. The bill would authorize up to $29 billion over five years for the new branch within the foundation with an additional $52 billion for its programs. Read more
@ you if you think a penny of this money is going into actual R&D or anything useful. Nothing is going to be left over after all the stock buybacks.
I can practically taste the bitterness through my computer screen.
