Senate Passes Bill to Counter and Compete with China

The Senate passed sweeping legislation Tuesday designed to counter and compete with China’s growing power by investing more than $200 billion over the next five years into scientific research and technology.

The bill, called the U.S. Innovation and Competition Act (USICA), was supported by both Republicans and Democrats in the chamber in a 68-32 vote to bolster funding for emerging industrial sectors, namely semi-conductors. The bipartisan approval of the measure signaled that both parties are prioritizing matching the authoritarian Chinese regime’s growing influence on the international stage. It shows a Republican shift from the free-market, anti-government intervention in the economy stance to support of an industrial policy to bolster U.S. efforts to compete with China.