An “America Competes Act of 2022” was introduced into the U.S. House of Representatives with the aim of bolstering the nation’s competitiveness with China.
The 2,900-page bill includes $52 billion in incentives for the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Fund.
The proposed legistation offer $45 billion for supply chain resilience and manufacturing of critical goods, industrial equipment and manufacturing technology. It also specifies tariff reductions on hundreds of imported goods.
Unlike the version passed by the Senate last year, the House bill does not include $190 billion in funding for science and technology research programs. It does include funding for advanced communications technologies, including mobile, cybersecurity, and quantum network infrastructure.
The full text of the bill is here:
https://rules.house.gov/sites/democrats.rules.house.gov/files/BILLS-117HR4521RH-RCP117-31.pdf
