“We have no time to wait. This is a historic investment in American manufacturing, American research and development in emerging technology and just cannot wait any longer,” Commerce Sec. Raimondo says.
“We have no time to wait," Gina Raimondo said of the America Competes Act, which the House is expected to vote on this week.Feb. 2, 2022, 9:34 PM UTCWASHINGTON — Commerce Secretary Gina Raimondo urged House Democrats to pass a bill aimed at increasing U.S. economic and technological competitiveness against China when she met Wednesday morning with lawmakers.
The bill would aim to address some of the challenges facing the economy, including microchip shortages and supply chain backlogs. Pelosi, D-Calif., predicted that she’d get enough Democratic votes to pass on a partisan line, telling reporters Wednesday after meeting with Raimondo that Republicans “may not want the president to have a victory, which is a sad statement on their part because this is really a jobs issue and national security issue.”
The bill would allocate billions to enhance the manufacturing of microchips in the U.S.; enhance innovation and technology, including through job training; appropriate $45 billion in grants and loans to increase U.S. manufacturing of other key technology components to clear the supply chain; and create an office within the Commerce Department that would focus solely on the supply chain.