Legislation would strengthen U.S. technology and research.
A $250 billion tech bill to address supply chain and chip shortages, increase competition with foreign sources, and strengthen American research and technology has been introduced in the House of Representatives.
Known as the America Competes Act, the bill includes $52 billion to encourage more semiconductor production in the U.S. and $45 billion for grants and loans to improve supply chain resilience and manufacturing, among other programs.
It also includes funding to address social and economic inequality, climate change, and immigration. For instance, it provides an exemption for STEM Ph.D.’s from the green card cap and creates a new green card for entrepreneurs.
A similar bill, the U.S. Innovation and Completion Act, passed the Senate last year with wide bipartisan support, although it is unclear what the Senate’s response to the House bill could be.
President Biden voiced his support of the bill. “I’m heartened by Congress’ bipartisan work so far, and its commitment to quick action to get this to my desk as soon as possible. Together, we have an opportunity to show China and the rest of the world that the 21st century will be the American century—forged by the integrity and hard work of our innovators, workers, and businesses.”
As the Lord Leads, Pray with Us…
- For members of Congress as they attempt to support competitiveness and technological research with legislation.
- For wisdom for U.S. governing officials as endeavors to resolve supply chain issues and microchip shortages are made.
- For the president to seek God’s guidance as he promotes his agenda.
Sources: The White House, Axios
