Biden Says Chinese Communist Party Is Lobbying Against Competition Bill

5Mind. The Meme Platform
The Epoch Times Header

President Joe Biden said on May 3 that the Chinese regime is trying to influence the outcome of legislation aimed at bolstering U.S. competitiveness against Beijing.

“Fundamentally, this is a national security issue. This is one of the reasons why the Chinese Communist Party is lobbying folks to oppose this bill,” Biden said. “And it’s an issue that unites Democrats and Republicans. So let’s get it done.”

The House version of the bill was approved in February, on a mostly party-line 222–210 vote. In the following month, the Senate bill was passed in a 68–28 vote, with 27 of the 28 senators who voted against it being Republicans. The legislation is known as the COMPETES Act, with one of the key provisions being to provide billions to support the U.S. semiconductor industry.

Biden made the remarks in Troy, Alabama, during a tour of a plant belonging to U.S. defense giant Lockheed Martin. The rest of his remarks focused mainly on the Ukraine war.

To make his case about the need for the legislation, Biden pointed to how a single Javelin anti-tank missile requires 200 semiconductors. Ukrainian forces have used the missiles to fight back against the Russian invasion.

“That’s why we are making it as hard as we can for Russia to get a hold of semiconductors and advanced technologies that it could use to upgrade its military during this conflict, and why we’re taking steps to make it easier to source what we need here in the United States during a global semiconductor shortage,” Biden said.

Now, the two chambers of Congress will start negotiations to reconcile differences in the respective bills before a final version can be sent to the president’s desk.

The White House didn’t respond to a request for comment by press time.

By Frank Fang

Read Full Article on TheEpochTimes.com

Contact Your Elected Officials
The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

The Man I Had to Teach Myself to Become: What Happens When Boys Grow Up Without Fathers

Many young men today grew up without a man in their life to show them how to become one.

The Clintons Need Prosecutions, Not Hearings!

Americans are tired of Congressional hearings that produce no criminal prosecutions.
00:07:48

Mr. Monsanto Goes to Washington: The Casey Means Confirmation Hearing

The recent Senate Health Committee hearing for Surgeon General nominee Casey Means went as predicted.

The Planned “NATO Bank” Is Expected To Finance Europe’s Impending Arms Race With Russia

RT drew attention in late January to a report by Izvestia about the West’s alleged plans to launch a “Defense, Security, and Resilience Bank” (DSRB) by 2027.

The Iran War Allows Congress to Make Itself Relevant Again

Congress has made itself irrelevant by submitting to presidential power. The Iran War gives Congress the ability to refuse to spend on undeclared wars.

Former Members of Alleged Texas Antifa Cell Shed Light on Ideology During Trial

North Texas Antifa members testified in a domestic terrorism case that social justice and anti-government ideology influenced their involvement with the group.

Justice Department Sues for Ownership of $15 Million Seized From Iranian Oil Tycoon

DOJ filed two federal lawsuits seeking forfeiture of $15.3M allegedly used to finance the illicit distribution of sanctioned Iranian oil.

US Gas Prices Jump as Iran War Continues

The average price of gasoline has increased to its highest level since mid-2024 as the conflict in Iran continues.

US Economy Unexpectedly Lost 92,000 Jobs in February

The U.S. economy unexpectedly lost jobs last month, reversing January’s better-than-expected performance, new government data shows.

US Customs Expects Tariff Refund System to Go Online in 45 Days

U.S. customs officials say they’re building a system to issue tariff refunds, and they hope it will go online within 45 days.

Trump Says US Defense Contractors to Quadruple Munitions Production ‘As Rapidly as Possible’

Trump met with executives of largest defense contractors and they agreed to quadruple production of “exquisite weaponry … as rapidly as possible.”

What to Know About Markwayne Mullin, Trump’s Pick to Replace Noem as DHS Head

Sen. Markwayne Mullin has been tapped to head up the DHS after President Donald Trump on Thursday fired DHS Secretary Kristi Noem from the post.

Trump Meets Germany’s Merz at White House, Says Berlin Aligned With US on Iran

German Chancellor Merz met with President Trump at the White House, with the Trump saying Berlin is aligned with Washington on the Iran War.
spot_img

Related Articles

Popular Categories

MAGA Business Central