House passes bill to make USA more tech competitive!

[ronstar]

House passes bill to boost U.S. chip production and China competition, sending it to Biden

The Chips and Science Act includes more than $52 billion in funding for U.S. companies producing computer chips, among other provisions.

www.cnbc.com

Senate already passed bill, with 14 Republicans joining all Democrats. Oddly, the GOP leadership in the House urged their colleagues to reject the bill. And yet 24 House Republicans voted for it.

This will make American chip and other tech manufacturers more competitive with China.

We REALLY needed this bill to pass, and now it goes to Biden to be signed.

Nice job!!!

 

[Saltwater60]

House passes bill to boost U.S. chip production and China competition, sending it to Biden

The Chips and Science Act includes more than $52 billion in funding for U.S. companies producing computer chips, among other provisions.

www.cnbc.com

Senate already passed bill, with 14 Republicans joining all Democrats. Oddly, the GOP leadership in the House urged their colleagues to reject the bill. And yet 24 House Republicans voted for it.

This will make American chip and other tech manufacturers more competitive with China.

We REALLY needed this bill to pass, and now it goes to Biden to be signed.

Nice job!!!

But wait aren’t these the super rich assholes that pay no taxes that the left hates? They have them a 25% tax break so does that mean they will pay the tax increase or no?
This will cause more inflation since we’re handing out money. Also keep in mind the auto manufacturers aren’t tooled to use the new chips.
Funny that that’s how it’s being reported but only 52 billion is for that and another $200 billion is for “scientific research” whatever that is. It’s a pretty nebulous term.

'America is delivering': Biden signs bipartisan computer chips bill into law

Lawmakers overcame their differences to pass a bipartisan bill that invests in computer chips production. President Joe Biden signed it Tuesday.

www.usatoday.com

 

[Carlos Hathcock]

Sad that we have to legislate our country into economic competitiveness.

 

[Dr. Evil]

I thought capitalism was bad.

 

[Saltwater60]

Sad that we have to legislate our country into economic competitiveness.

No legislation, just hand outs to big rich companies that they are crying about now. They claim they don’t pay enough in taxes yet these assholes give them a tax break. I’m lost.

 

[Grimscale]

No legislation, just hand outs to big rich companies that they are crying about now. They claim they don’t pay enough in taxes yet these assholes give them a tax break. I’m lost.

It isn't that corporations get tax breaks. It's WHICH corporations get tax breaks.

This gives it to friends of the Dems. So it's ok.
If the repubs get power and give it to their friends that would be ok.
But never let your enemy's friends get it.

 

[Cavalry]

I have not read the bill, but it needs to have a clause that companies do not get any money or tax breaks unless they actually bring a product to market in specific quantities.

 

[Saltwater60]

I have not read the bill, but it needs to have a clause that companies do not get any money or tax breaks unless they actually bring a product to market in specific quantities.

But the democrats are talking about taxing people at a higher rate right now so why give tax breaks? They make no sense. None of this makes sense.
From what I understand the car manufacturers used the old outdated chips and that’s part of the shortage issue. I’ll bet these chip makers will feed the new EV platform and this is part of the new green deal disguised as fighting China.

 

[pjzwtl]

Sad, people fall for this shit

 

[tirwin1]

Shouldn't it be called the Nancy pelosi insider get rich quick bill? That's a more honest description.

 

[repete]

Millions of this bailout will find its way to rich politician's pockets, paid for by you and me and our future generations. The bitch about this is these Basterds don't even try to hide their theft anymore!

 

[ronstar]

If Trump was still President he would push for the exact same bill, with twice as much money, and his followers would praise it.

 

[Dr. Evil]

If Trump was still President he would push for the exact same bill, with twice as much money, and his followers would praise it.

You don't miss a beat lol. I'll give you this besides your avatar. You're consistent.

 

[Phazer]

I have not read the bill, but it needs to have a clause that companies do not get any money or tax breaks unless they actually bring a product to market in specific quantities.

Interesting idea.

I'm generally against subsidizing private companies since market forces should dictate products and prices. However, there are certainly national security issues and American economic issues at stake. At present, there is no reason for semiconductor manufacturers or electronic component (ex/ diodes, transistors, LEDs, capacitors, etc) manufacturers to produce items in the U.S. because of very cheap items made abroad. It really bothers me that we are considering subsidizing such industries. But...if we do not get some of these items produced domestically, now, it will be way too late to do so once China invades Taiwan. At that time, Chinese and Taiwanese products will be unavailable. We will then have massive difficulties building any modern equipment (motor vehicles, power plants, control units for water supplies, transformers, military assets, etc).

So, I'm reluctantly forced to agree with measures designed to proactively bolster American high-tech component production before we are forced to be reactive to foreign events.

As @Cavalry wrote, the American taxpayers should have some protections for their "investment."

 

[Saltwater60]

If Trump was still President he would push for the exact same bill, with twice as much money, and his followers would praise it.

Since you’re praising it not much is different on the other side of the political spectrum.
As I’ve mentioned this is a government handout to rich companies and a 25% tax reduction while at the same exact time the left is bitching and will pass a tax bill taxing wealthy companies and individuals. Double talk at its finest.

 

[ronstar]

Since you’re praising it not much is different on the other side of the political spectrum.
As I’ve mentioned this is a government handout to rich companies and a 25% tax reduction while at the same exact time the left is bitching and will pass a tax bill taxing wealthy companies and individuals. Double talk at its finest.

I have NO problem giving tax breaks or grants to companies that raise wages, hire more workers, provide more benefits, and make the USA more tech competitive.

 

[Jezman]

Sad that we have to legislate our country into economic competitiveness.

Welcome to Capitalism via government interaction.

 

[ronstar]

Sad that we have to legislate our country into economic competitiveness.

Govt. intervention is why other nations are kicking our asses.

 

[lrick]

I have not read the bill, but it needs to have a clause that companies do not get any money or tax breaks unless they actually bring a product to market in specific quantities.

You mean like a Solyndra clause?

 

[Acer-m14]

is making CHIPS "GREEN" and Environment Friendly ?

what's the carbon footprint on making CHIPS ?

 

[TEOTWAWKI inc.]

I have NO problem giving tax breaks or grants to companies that raise wages, hire more workers, provide more benefits, and make the USA more tech competitive.

I have a HUGE problem with this. The government needs to stay out of everything, and stop taking everyone's god damn money to give to someone else. I am so sick of getting my fucking money taken from me, and all I get in return is to watch the death spiral this country is in. It's over - America has been destroyed.

 

[libertysnake]

No legislation, just hand outs to big rich companies that they are crying about now. They claim they don’t pay enough in taxes yet these assholes give them a tax break. I’m lost.

The first mistake you made was trying to apply logic to the situation...

Classic mistake.

 

[Saltwater60]

I have NO problem giving tax breaks or grants to companies that raise wages, hire more workers, provide more benefits, and make the USA more tech competitive.

How do you know these companies will do any of the above except maybe the last one? Even the last statement possibly won’t even happen as they could sell all chips overseas, but that’s unlikely.

 

[Saltwater60]

Govt. intervention is why other nations are kicking our asses.

So are you for environmental regulations or not? Seems like the build back better lite you were praising earlier has a lot of government regulations attached for the environment.
If this is truly how you feel then why do you support democrats since they are the one regulating and expanding the government.

 

[Saltwater60]

The first mistake you made was trying to apply logic to the situation...

Classic mistake.

Hence why I say liberal logic isn’t logical at all.

 

[Tisto]

Diesel Tech ? Is that you ?

 

[Saltwater60]

Diesel Tech ? Is that you ?

His mom took over his account.

 

[Saltwater60]

So now all the sudden the democrats have a fear of China.

U.S. recession would be 'deep and immediate' if it loses Taiwan's chips | Fortune

U.S. Commerce Secretary Gina Raimondo laid out the 'scary scenario' to urge Congress to pass the $52 billion CHIPS Act to onshore semiconductor production.

fortune.com

 

[meketrefe]

We need a bill to send them all packing.
Then when you remove all the bureaucracy, absurd taxes, stupid laws and regulations, the economy will flourish just like after a brush fire where everything is charred. You just leave it alone, the rain will fall, the sun will raise and beautiful grass and vegetation will grow even stronger than before.
How do you fire an inefficient self serving out of control political class?
With them around, SMBs do not stand a chance and the SMB is the key to a healthy and prosperous society and economy.
These are not theories, it is supported by facts and history.

 

[ronstar]

I have a HUGE problem with this. The government needs to stay out of everything, and stop taking everyone's god damn money to give to someone else. I am so sick of getting my fucking money taken from me, and all I get in return is to watch the death spiral this country is in. It's over - America has been destroyed.

if the US govt does not help our manufacturers be competitive, China will destroy is in all manufacturing. We are bringing a knife to a gun fight and its killing our jobs.