The recent introduction of the Endless Frontiers Act represents a new, bipartisan tool for the U.S. to combat the intensifying pressure from China, especially when it comes to semiconductors. The bill calls for $100 billion over five years for basic and advanced technology research and $10 billion to create new technology hubs across the country. As a lead bill sponsor, Senate Majority Leaders said “whichever nation develops new technologies first – be they democratic or authoritarian – will set the terms for their use.” Schumer has been out front in recruiting semiconductor initiatives to New York. A Reuters report on the bill quoted Representative Mike Gallagher who stated that “the Chinese Communist Party has used decades of intellectual property theft and industrial espionage to close this technological gap in a way that threatens not only our economic security, but also our way of life.”
New Bipartisan Bill Will Give U.S. An Edge In Competition With China
