House Passes Massive Semiconductor Subsidy Bill Despite GOP Efforts | Eastern North Carolina Now | The House of Representatives passed the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act on Thursday, despite opposition from Republicans who argued that the bill would funnel billions in taxpayer money toward corporations.

Coronavirus Disease 2019 (COVID-19)
    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Tim Meads.

    The House of Representatives passed the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act on Thursday, despite opposition from Republicans who argued that the bill would funnel billions in taxpayer money toward corporations.

    The House passed the bill in a 243-187 bipartisan vote, while it passed the Senate on Wednesday 64-33. The bill will dedicate $52 billion in government subsidies for companies that make computer chips, provide $24 billion in tax credits, and put forth $170 billion in scientific research over the next five years. Shortly after the bill passed, Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV) announced they had compromised on a bill that would raise taxes and fund climate change initiatives worth nearly $700 billion.

    Prior to the vote, House Minority Leader Kevin McCarthy blasted the federal government for its spending and implored his colleagues to oppose the legislation.

    "The Senate passed a bill that took a small, discretionary program and turned it into a $280 billion blank check, including $79 billion in mandatory spending on corporate welfare to be handed out to whoever President Biden wants," McCarthy said from the House floor.

    "I'm a no on the Senate CHIPS bill that will come to the floor today. I was a no last week. I was a no last night. And I will be the first no on the board today," McCarthy said. "I encourage all my Republican colleagues to join me."

    Rep. Thomas Massie (R-KY) noted that even Senator Bernie Sanders (I-VT) was against the bill because it favors corporations.

    "Senator @BernieSanders said the senate CHIPS Act is 'a $53 billion bribe' that semiconductor companies demanded in exchange for staying in the United States," Massie tweeted. "He's right. Taking money from working Americans and giving it to profitable corporations is immoral and won't even work."

    House Majority Leader Steny Hoyer (D-MD) argued that the bill "bolsters domestic manufacturing, creates good-paying jobs, and fights inflation, advancing the #MakeItInAmerica agenda: education, entrepreneurship, infrastructure, and supply chain resilience."

    McCarthy also used his floor speech to warn against the Manchin-Schumer Inflation Reduction Act.

    "They say they want to restore growth, but their new bill adds $700 billion in new taxes," McCarthy added. "Do Democrats really believe spending hundreds and billions of tax dollars right now while pursuing and punishing productive investments in the long run will lower inflation?"
Go Back

HbAD0

Latest Op-Ed & Politics

Dramatic video shows the moment a massive humpback whale crashed into a fishing boat off the coast of Cape Cod.
LGBTQ+ activists claim schools should affirm gender identity, create welcoming school cultures, and facilitate the transition process
FBI agents took numerous boxes and documents from former President Donald Trump’s Florida home at Mar-a-Lago on Monday as part of a criminal investigation into allegedly mishandled classified national security information.
President Joe Biden claimed on Sunday that America is back because “everyone sought” him “out” at the G20 in Rome over the weekend as world leaders discussed climate change.
With the Food and Drug Administration (FDA) prepping yet another booster shot for this fall — this one to target the Omicron variant known as BA.5 — scientists and immunologists are working on a whole new approach that includes nasal spray vaccines and body patches.
The N.C. Supreme Court agrees to extend oral arguments in the Leandro case from 60 minutes to 90 minutes.
Fifty-three U.S. lawmakers, all Republicans, signed onto a letter this week from former White House physician Ronny Jackson, who served in the role under the Obama and Trump administrations, demanding that Democrat President Joe Biden take a cognitive exam and immediately share the results
U.S. Senators Thom Tillis (R-NC) and Bill Hagerty (R-TN) introduced the Voice for Victims Act, legislation to restitute the VOICE Office to provide “proactive, timely, adequate, and professional services to victims of crimes committed by removable aliens” and their families.

HbAD1

Senator Joe Manchin (D-WV) called out his own party Monday for “playing games” as they try to pass a bipartisan infrastructure bill and President Joe Biden’s massive social spending bill.
Max Gomberg, a former climate change mitigation strategist with leftist views, resigned from the California State Water Resources Control Board this month, pointing to Governor Gavin Newsom’s (D-CA) administration’s unwillingness to make changes during a drought in the state.
Former NFL player Jack Brewer slammed former NFL player turned left-wing activist Colin Kaepernick during an interview on Monday, saying that Kaepernick’s message to young black men in the U.S. is poison.
The trouble with socialism is that you eventually run out of other people's money
Governor Ron DeSantis (R-FL) announced new actions this week that his administration is taking to protect the state of Florida from environmental, social, and corporate governance (ESG) influence.
On Friday night, federal Judge James Dever made a decision in the North Carolina Green Party’s lawsuit against the State Board of Elections, placing the party’s candidates on the ballot and claiming jurisdiction over the matter.

HbAD2

 
Back to Top