House passes COMPETES Act to end China’s supply chain coercion

The House of Representatives has passed the America COMPETES Act 2022 that will effectively end China’s supply chain coercion.

The America COMPETES Act 2022 includes investments of $45b for critical goods and $52b for semiconductors. Manufacturing of goods of major sectors is set to be brought back to the United States.

The bill was passed 222-210 in the House, with only one Republican and Democrat crossing Party lines to vote for and against it.

House Speaker Nancy Pelosi said the bill is about “making American independent.” With the manufacturing in crucial sectors back in America, Chinese coercion and attempts to blackmail the US and the World will come to a halt.

House Republicans have criticized the bill which they say has provisions that would actually help China. The bill is now headed for the Senate where both aisles will try to reach a consensus – revise and perfect the legislation before it goes to President Biden for signing into law.

The Senate had already passed its over $110b bipartisan version back in June, and is now set to debate the House’s version which would be sent back for another vote once it’s revised in the Senate.

The House’s version will also help increase America’s competitiveness in global markets.

The Republicans fear that the current version of the bill that’s being pushed by the Democrats includes unrelated funding for climate change and immigration which should not be part of a bill certifying America’s technical and supply chain independence.

Such a bill should be passed with consensus and no Party should try to secretly get their agenda passed that is irrelevant to the soul of the bill.

Senate Majority leader Chuck Schumer hopes that a consensus is reached in the Senate and the bill is debated and revised accordingly so that it’s ultimately passed in a bipartisan manner.