Republicans split on major China bill, as legislation barrels toward passage

Jul 21, 2022

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 ‘subsidizing highly profitable companies that don’t need the help,’” 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.”

Continue Reading at Fox News