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Ron Johnson votes against the “Chips and Science” bill because it'll “fuel the flames of inflation” [1]
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Date: 2022-07-27
“fuel the flames of inflation” ~ Ron Johnson
At a time when China is all upset about Speaker Pelosi planning a visit to Taiwan, where much of America’s semiconductor chips are manufactured, Ron Johnson sees nothing wrong with remaining heavily dependent on Taiwan and China for vast majority of our semiconductor chips.
From the Milwaukee Journal Sentinel:
Ron Johnson votes against bipartisan legislation to ramp up production of U.S.-made semiconductor chips WASHINGTON – Wisconsin’s Ron Johnson was among 33 senators to oppose bipartisan legislation that would put tens of billions of dollars toward the domestic production of semiconductor chips, dismissing the effort as “corporate welfare.” The measure, a priority for President Joe Biden that supporters say would promote economic and national security and create jobs in states like Wisconsin, passed the Senate Wednesday on a 64-33 vote.
Seventeen Republicans, including Minority Leader Mitch McConnell, joined the majority of Democrats in supporting the bill.
Now called the “Chips and Science” bill, the legislation would, in part, allocate more than $50 billion toward chip manufacturing and provide tax credits to companies that make the semiconductor chips, which are used for everything from cellphones and refrigerators to military and agricultural equipment. A shortage of such chips recently led to a slowdown in automobile manufacturing. It also includes billions of dollars for scientific research, including funding for the National Science Foundation. Johnson on Tuesday called the package “more corporate welfare” for the semiconductor industry and indicated the funding would “fuel the flames of inflation.”
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