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Transcript/ScriptUS CHIPS BILL
HEADLINE: US Senate Advances Bill to Boost Chipmaking, Competition With China
TEASER: The $280 billion package would provide $52 billion in funding for domestic semiconductor manufacturing
PUBLISHED AT: 07/27/2022, 5:21p
BYLINE: Katherine Gypson
PRODUCERS: Katherine Gypson
DATELINE: Washington
VIDEOGRAPHER:
SCRIPT EDITORS: MAS, Reifenrath, DJ (ok)
VIDEO SOURCE (S): AP, ABC
PLATFORMS (mark with X): WEB __ TV _X_ RADIO __
TRT: 2:57
VID APPROVED BY: Reifenrath
TYPE: TVPKG
UPDATE:
EDITOR NOTES:
((INTRO))
[[The U.S. Senate has passed a $280 billion initiative that would boost domestic production of microchips and provide support for a key industry that competes with overseas countries including China. As VOA’s Congressional Correspondent Katherine Gypson reports, the bill is expected to clear the House in the coming days before President Joe Biden signs it into law.]]
((NARRATOR))
After a year and a half of work, the U.S. Senate passed legislation on Wednesday promoting the nation's microchip industry by a vote of 64 to 33.
((Chuck Schumer, Senate Majority Leader))
“Today is a very good day for the American people, for the future of our country. I believe firmly that when signed into law, this bill will reawaken the spirit of discovery, innovation and optimism that made America the envy of the world.”
((NARRATOR))
During a trip last week to a major U.S. manufacturing region in the Midwest, House Speaker Nancy Pelosi said the legislation would lessen America’s reliance on China.
((Nancy Pelosi, Speaker of the House))
"No longer will America always ever be dependent on something offshore that was created here, made in America, invented here. And we will again have the jobs here."
((NARRATOR))
The bill will provide $52 billion in incentives for the U.S. semiconductor industry, but the measure is a downgrade of much more ambitious legislation addressing U.S. competition with China.
But the bill’s co-sponsor said this vote was a good start.
((Sen. Mark Warner, Democrat))
“This funding sends a message that the United States is putting a strong down payment on maintaining our edge in the global technology race — and preventing global supply chains from being weaponized against the United States, or for that matter, against our allies. Over the past few years, China has continued to increase investments in its domestic industries — and particularly in areas that confer long-term strategic influence.”
((NARRATOR))
With many Americans concerned about a weak economy and rising inflation, some conservatives criticized the cost of the bill, which is expected to create a $79 billion deficit over the next decade. Senator Bernie Sanders, who usually votes with Democrats, said this funding benefits wealthy corporations.
((Sen. Bernie Sanders, Independent))
“The crisis is caused by the industry shutting down in America and moving abroad. And today what we are doing is saying, 'We are going to give you a blank check to undo the damage that you did.'”
((NARRATOR))
But ultimately, 17 Republicans voted for the funding, citing concerns about U.S. strategic competition with China.
((Mitch McConnell, Senate Minority Leader))
“This is about national security, and about making sure we have adequate supply here at home of things that are absolutely indispensable. I wish that were inexpensive, but in this particular situation, it's not.”
((NARRATOR))
The U.S. House is expected to swiftly pass the legislation before leaving for summer recess, then President Biden is expected sign it into law.
((Katherine Gypson, VOA News, Washington))
NewsML Media TopicsArts, Culture, Entertainment and Media
NetworkVOA
Location (dateline)Washington D.C.
Embargo DateJuly 27, 2022 17:46 EDT
Byline((Senanu Tord for VOA news, Kigali, Rwanda ))
Brand / Language ServiceVoice of America - English
