Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

US Senate Approves Mammoth Innovation Bill To Counter China

US Senate Approves Mammoth Innovation Bill To Counter China

The bill now heads to the House of Representatives, which earlier passed a different version. The two will have to be reconciled into a single bill before it is sent for the president's signature.

The US Senate passed a sweeping industrial policy bill Tuesday aimed at countering a surging economic threat from rival China, overcoming partisan divisions to support pumping more than $170 billion into research and development.

With both American political parties increasingly worried about competition from Asia's largest power, the measure cleared the chamber on a 68-32 vote, one of the most significant bipartisan achievements in Congress since Joe Biden's presidency began in January.

It also represents the largest investment in scientific research and technological innovation "in generations," according to Senate Majority Leader Chuck Schumer.

The bill now heads to the House of Representatives, which earlier passed a different version. The two will have to be reconciled into a single bill before it is sent to the White House for the president's signature.

Biden said he was "encouraged" by the Senate's passage of the United States Innovation and Competition Act.

"We are in a competition to win the 21st century, and the starting gun has gone off," Biden said.

"As other countries continue to invest in their own research and development, we cannot risk falling behind. America must maintain its position as the most innovative and productive nation on Earth."

The package, a key provision of which addresses a shortage of semiconductors that has slowed US auto production this year, will help US industry bolster its capacity and improve technology.

It is seen as crucial for US efforts to avoid being out-maneuvered by Beijing as the adversaries compete in the race to technological innovation.

Schumer called the measure "one of the most important things this chamber has done in a very long time, a statement of faith in America's ability to seize the opportunities of the 21st century."

The proposal aims to address a number of technological areas in which the United States has fallen behind its Chinese competitors, including in semiconductor production.

The bill allocates $52 billion in funding for a previously approved plan to increase domestic manufacturing of the components.

It also authorizes $120 billion over five years for activities at the National Science Foundation to advance priorities including research and development in key areas like artificial intelligence (AI) and quantum science.

And it facilitates tie-ups between private firms and research universities.

"This is an opportunity for the United States to strike a blow on behalf of answering the unfair competition that we are seeing from communist China," said Republican Senator Roger Wicker, one of the main co-sponsors.

Whichever countries best harness technologies like AI, robotics and quantum computing will be able to shape innovation to its image, added Schumer, before criticising Chinese President Xi Jinping.

"Do we want that image to be a democratic image, small D? Or do we want it to be an authoritarian image, like President Xi would like to impose on the world?" Schumer asked.

Bid for US "leadership"


A summary of the Senate legislation notes how the Chinese Communist Party is "aggressively investing over $150 billion" in semiconductor manufacturing in order to control the advanced technology.

While the Senate's top Republican Mitch McConnell stressed that the measure remained "incomplete," it nevertheless passed by a healthy margin, highlighting how the nation's competition with its rising geopolitical rival China is one of the few issues that can bring feuding Republicans and Democrats together.

"For everything from national security to economic policy, there's a clear and urgent need to reorient the way our country views and responds to the challenge from China," Republican Senator John Cornyn said.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
×