Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) released the following statement regarding today’s House introduction of the America COMPETES Act of 2022:
“The introduction of the vital America COMPETES Act of 2022 in the House is an important step forward to setting up a conference with the Senate-passed U.S. Innovation and Competition Act, so we can quickly negotiate a final bill for the president to sign into law. We have no time to waste in improving American competitiveness, strengthening our lead in global innovation, and addressing supply chain challenges, including in the semiconductor industry.
“We’re in an all-out race for the jobs of the future and to protect our country’s global technological edge – it’s time to invest in America’s workers and keep our tech economy on the cutting edge. The stakes we face are enormous: if we do not invest now in researching, developing, and manufacturing the technologies of the future, we risk falling behind China and other global competitors, endangering U.S. jobs, intellectual property, and national security. These strong investments in innovation are absolutely critical to maintaining America’s leadership into the next century.”