This effort marks a move into industrial policy that is almost unprecedented in recent American history, and on how the Biden administration and Congress implement and supervise key initiatives, including hundreds of billions of dollars in taxpayers. It poses a myriad of questions.
Read more about relations between Asia and the United States
The bill was passed as a culmination of many years of effort when Mr. Schumer’s remarks began in Senate Jim in 2019 and approached Senator Todd Young, a Republican in Indiana.Mr. Young Fellow Chinese hawkPreviously, he worked with the Democratic Party on foreign policy.
In the end, Senate support was made possible only by a clash of unlikely factors: a pandemic that exposed the cost of a global semiconductor shortage, intense lobbying from the chip industry, and his colleagues with the party. Young’s tenacity to encourage a break, orthodox and supportive of the bill, Schumer was promoted to the top position in the Senate.
Many senators, including Republicans, are critical to strengthening US semiconductor manufacturing capabilities as the US puts advanced chips at risk to foreign countries, especially Taiwan, which is becoming increasingly vulnerable. viewed as a step.
Schuma said it wasn’t too difficult to collect votes from Democrats who are less likely to dislike government spending. But he also nodded to support from Republicans, including minority leader Mitch McConnell, a Kentucky senator.
The law known by the ever-changing carousel of the lofty name in Washington went against a simple definition. Over 1,000 pages long, it simultaneously summarizes R & D bills, short-term and long-term employment bills, manufacturing bills, and semiconductor bills.
