WASHINGTON – Congressman Kweisi Mfume issued the following statement on the House passage of global economic competitiveness legislation, the America COMPETES Act, today.
“The U.S. House of Representatives is leading America’s recovery effort. This includes working domestically to move the nation past the health and economic crisis caused by the coronavirus, and it includes ensuring America remains at the forefront of global competitiveness. The COMPETES Act advances our country on both fronts. I proudly cosponsored the bill we passed today and remain committed to making our nation better through the work of Congress,” said Congressman Kweisi Mfume.
About the America COMPETES Act 2022
The Official Title is America Creating Opportunities for Manufacturing Pre-Eminence in Technology and Economic Strength Act of 2022.
The America COMPETES Act includes bold, smart, and strategic investments to power the success of America’s workers, businesses and economy – based on bipartisan bills, many of which have already passed the House with bipartisan support – including:
- Supercharging investments in semiconductor chips: with $52 billion to support U.S. production of semiconductors — a key component in consumer electronics, cars, defense systems and other key products — address supply chain disruptions that push up costs for families, bring back chips production to America and ensure that the U.S. leads the way on semiconductor fabrication.
- Strengthening supply chains and manufacturing at home: with $45 billion to support the manufacture and acquisition of critical goods or industrial equipment that are essential for national security and economic vitality – including public health and biological preparedness, information and communications technology, the energy and transportation sector’s industrial base, and agricultural commodities and food product supply chains. COMPETES reduces our reliance on critical goods from countries of concern and encourages the relocation of manufacturing facilities out of these countries.
- Advancing American scientific research and innovation excellence: ensure that we lead the technologies of the future with a suite of bipartisan science, research and technology bills to turbocharge American innovation, focused squarely on producing solutions and results. COMPETES also maximizes the American talent pool by strengthening and diversifying our nation’s STEM workforce.
- Promoting U.S. global leadership: positioning the interests and values of the United States, not China, to win on the world stage, including with strong action to hold the PRC accountable for its trade abuses, which hurt U.S. workers, and for its human rights violations, including the genocide against the Uyghurs.
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