Luján Secures Key Amendments To U S Innovation & Competition Act To Support National Laboratories ladailypost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ladailypost.com Daily Mail and Mail on Sunday newspapers.
U.S. Senate Passes Industrial Policy Bill to Compete with Beijing
Posted by John Chan | Jun 9, 2021
The United States Senate has passed a landmark, bipartisan bill to dramatically increase government spending on technological development. The bill, known as the U.S. Innovation and Competition Act, allocates $250 billion to spending in sectors deemed critical to America’s competitiveness against China. It now heads to the House, where it still must be reconciled with a bill authored by more skeptical House representatives. The Wall Street Journal’s John D. McKinnon
The legislation represents a potential landmark effort to turn the tide on several long-term trends in U.S. competitiveness. Those include eroding federal investments in research overall and a shrinking share of the world’s semiconductor manufacturing.
The United States Innovation and Competition Act (USICA): A Primer
Tom Lee, Juan Londoño
Executive Summary
The United States Innovation and Competition Act (USICA) is a $200 billion proposal aimed at countering China’s influence domestically and abroad.
USICA has gained bipartisan support and has been labeled as “must-pass” legislation, but the negotiation process has resulted in the inclusion of amendments and provisions that deviate from the bill’s original goal.
The bill proposes an expanded role for the federal government in “strategic sectors” – including semiconductors, drones, wireless broadband, and artificial intelligence – with increased funding, supervision, and regulation of various industries.