Energy and Commerce Committee Chairman Frank Pallone, Jr. (D-NJ) delivered the following opening remarks today at the first Conference Committee meeting on H.R. 4521, the America COMPETES Act and S. 1260, the United States Innovation and Competition Act:
Madame Chair, this Conference Committee is here to take bicameral action that will secure the future of American manufacturing and ensure we lead the 21st century global economy.
As Chairman of the House Energy and Commerce Committee, I’d like to highlight several important provisions in the House-passed America COMPETES Act that I strongly support and believe should be included in any final agreement in order to achieve our goals.
The America COMPETES Act authorizes $46 billion to support supply chain resilience and manufacturing of critical goods right here in the United States. Earlier this week, a coalition of 134 manufacturing associations wrote to Congress in support of these provisions, writing that it, and I’m quoting, “Will play an essential role in strengthening supply chains crucial for consumers and ensuring Americans’ quality of life and economic prosperity for decades to come.”
The COMPETES Act invests $52 billion to incentivize private-sector investments in the critically important semiconductor industry. Everything from military equipment to medical devices to home appliances depends on semiconductors and it’s vital that we be able to manufacture them here at home.
The bill also invests $3 billion to support domestic solar manufacturing so we can aggressively counter China’s control of the solar market that jeopardizes our long-term energy security interests.
The COMPETES Act also increases our domestic drug manufacturing base by expanding the use of advanced and continuous manufacturing practices and invests in replenishing domestic reserves of critical medical supplies so we’re prepared for future public health emergencies.
The COMPETES Act will help innovate our wireless supply chain and network security and ensure that next-generation mobile wireless networks and technologies are safe and secure from foreign adversaries, including by investing $1.5 billion in the Public Wireless Supply Chain Innovation Fund.
Madame Chair, we have an opportunity to ensure that America can outcompete the rest of the world, and I look forward to working with each of you to make that a reality.
Thank you, I yield back.
Original source can be found here.
