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Republicans are split on a major bill aimed at boosting the U.S. semiconductor industry, with some alleging that the legislation reeks of corporate welfare and others arguing it’s key to helping the U.S. compete with China.
Multiple Republican senators who support the semiconductor legislation Wednesday also shared a tweet thread from American Compass Executive Director Oren Cass, pushing back on a Wall Street Journal editorial opposing the bill.
“The WSJ editorial laments âsubsidizing highly profitable companies that donât need the help,â” Cass wrote. “But the issue isn’t profitability, it’s incentives at the margin for investment in domestic production. The editors may only care about profits, America has other concerns.”
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To Counter China, Some Republicans Are Abandoning Free-Market Orthodoxy
Jeanne Whalen reports on Republican enthusiasm for industrial policy, citing American Compass’s Moving the Chains report.
American Compass on CHIPS Act Passage: An Inflection Point in U.S. Policy
PRESS RELEASEâAmerica is finally getting serious about returning critical industries to our shores.
CHIPS Wonât Help China
American Compass executive director Oren Cass argues that demanding perfect legislation is a convenient excuse for voting no, and a standard by which everyone would always vote no.
