Former U.S. security officials urge Congress to act on China legislation -Breaking
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© Reuters. In this image taken January 27, 2022, you can see the U.S. and China flags printed on paper. REUTERS/Dado Ruvic/IllustrationBy Michael Martina
WASHINGTON, (Reuters) – More than a dozen ex-highly placed U.S. security officers have urged Congress to pass technology funding legislation quickly to meet China’s demands.
In a letter, 16 past Republican and Democratic officials signed the bill. This included Leon Panetta who was the defense secretary under President Barack Obama and Stephen Hadley the national security advisor to President George W. Bush.
Senate passed U.S. The U.S. Innovation and Competition Act was passed by the Senate last year. It included $52 billion for semiconductor industries and $190 billion to support U.S. research and technology to be competitive with China.
Today, the House of Representatives began to examine its “America Competes” bill. The Senate bill will be referred to the House of Representatives for consideration.
The officials stated that it was time to prioritise comprehensive and bipartisan competition legislation. This will allow the United States to keep its strengths and compare with rising enemies.
The email was addressed to Nancy Pelosi (Democratic House Speaker) and Chuck Schumer (Senate Majority Leader), as well Republican House leaders Kevin McCarthy, and Mitch McConnell.
John Brennan and Michael Hayden were former CIA Directors. They also signed the agreement as deputy national security advisors in Trump’s Trump Administration Matthew Pottinger. Michele Flournoy was undersecretary of defense for policy during Obama administration.
Ex-Google (NASDAQ;) Chief Executive Eric Schmidt was also among the signers. He served as a commissioner for government artificial intelligence and Jane Harman, an ex-ranking member of House Intelligence Committee.
There have been more than 500 amendments submitted to the House bill, one of which would prohibit semiconductor companies receiving subsidies from paying dividends and repurchasing stock company stock.
The U.S. Chamber of Commerce said that it was happy the House began to examine its bill. On Monday, the U.S. largest labor union stated it supported House legislation.
Keith Krach, under secretary of state for economic growth, energy and environment during Trump’s administration, signed the letter.
“It’d do so much in rallying high tech companies U.S.A, and it’d do a lot across the world to demonstrate we care about working together,” said he.
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