The United States plan to invest in basic and advanced technology research to out compete China in the global economy. To achieve this goal, the U.S. hopes to pass the “Endless Frontier” act that would provide $100 billion over five years to spent on basic and advanced research, education, and training programs in areas of technology such as artificial intelligence, semiconductors, quantum computing, advanced communications and commercialization, biotechnology and advanced energy.
At the initial stage, a U.S. Senate committee voted 24-4 to pass a compromise measure authorizing more than $110 billion in basic advanced technology research over a five-years term. However, the Endless Frontier act which most of the money [$100 billion] must be achieve bipartisan support from the full U.S. Senate and the U.S. House.
This legislation will allow the United States to out-compete countries like China, create more good-paying American jobs and help improve our country’s economic and national security,” said Senator Democratic Leader Chuck Schumer, who sponsored the bill along with Republican Senator Todd Young of Indiana.
“This legislation will allow the United States to out-compete countries like China, create more good-paying American jobs and help improve our country’s economic and national security,” said Senate Democratic Leader Chuck Schumer, who sponsored the bill along with Senator Todd Young, a Republican from Indiana. After the vote, Schumer said that he intended for the full Senate to “consider and finish” the legislation before the end of the month, and that he expected a strong bipartisan support.
While there both U.S. Senate and Senate House agree to increase funding for U.S. innovation, some Republicans feel the bill lacks tough rules to prevent U.S. subsidiaries that would benefit from the spending bill from later sending research and development abroad would potentially falls into the hands of China.
Senator Marco Rubio spoke on Tuesday to the U.S. Senate and House that legislation must prohibit American money from being invested in China’s military companies. A Republican House aide told Reuters that the “lack of stringent guard rails” counter to the objective of the bill. He pointed out the bill raise concern in his currently written form, it basically promotes taxpayer funded intellectual property, innovation, and research and development that could go into the hands of entities affiliated with or controlled by the Chinese Communist Party.
Senate Democrats say they are confident sufficient safeguards will be added before it is finished. Another authorized $10 billion will designate at least 10 regional technology hubs; implementing a supply chain crisis-response program to address issues like the shortfall in semiconductors chips harming auto production and and security measures on operations.