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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 ‘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.”
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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 RELEASE—America is finally getting serious about returning critical industries to our shores.
The Chips Act Debate Shows How Far the Republicans Have Moved
FINANCIAL TIMES—Oren Cass argues that conservative interest in rebuilding America’s industrial base may finally be overtaking free-market fundamentalism on the right.
