House Energy and Commerce Committee Republican Leader Cathy McMorris Rodgers (R-WA) released a statement following the Senate’s advancement of the CHIPS-Plus government subsidy legislation, which falls short of lifting tax burdens and removing costly regulatory and permitting barriers that are hampering American industries and their ability to innovate and compete with China.
“China tries to compete with the U.S. and other economies using any means necessary. They do not adhere to free market principles or the high labor and environmental standards that we have here in America. This is not a model America should be inspired by or embrace—we cannot beat the CCP at their own game of massive government subsidies. The U.S. succeeds when we reward hard work, creative thinking, risk-taking, innovation, and when we ensure that a company’s success isn’t contingent on the approval, direction, or spending by the federal government.
“As I have said from the beginning, to compete with China, it is essential that we have a reliable regulatory and permitting environment to unleash innovation, secure our supply chains, and ensure American companies are retaining and expanding jobs in the U.S. I support manufacturing chips at home in the U.S., but we cannot accelerate American leadership in critical industries, like semiconductors, through spending alone. It is disappointing that outspending China, rather than lifting burdensome regulatory barriers, continues to be the goal of this legislation. I hope that these are concerns the House will make a priority to address.”
CLICK HERE to watch House Energy and Commerce Republicans urge conference committee members to prioritize removing burdensome tax, regulatory, and permitting barriers, which pose significant challenges to American competitiveness and security.
Original source can be found here.
