{"id":1567131,"date":"2022-07-22T21:19:12","date_gmt":"2022-07-23T01:19:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1567131"},"modified":"2022-07-22T21:19:14","modified_gmt":"2022-07-23T01:19:14","slug":"texas-florida-lawmakers-at-odds-over-chips-act","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/texas-florida-lawmakers-at-odds-over-chips-act\/","title":{"rendered":"Texas, Florida Lawmakers at Odds Over CHIPS Act"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftexas-florida-lawmakers-at-odds-over-chips-act%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1567131&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>While some <a href=\"https:\/\/www.theepochtimes.com\/t-texas\">Texas<\/a> Republicans are urging Congress to pass a $250 billion CHIPS Act, <a href=\"https:\/\/www.theepochtimes.com\/t-florida\">Florida<\/a>\u2019s Republican U.S. senators are opposing it, arguing it will continue to drive \u201cBiden\u2019s inflation crisis,\u201d is a pro-China bill and gives billions of dollars to companies with no accountability.<\/p>\n<p>Proponents of the CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act argue it will bolster U.S. competitiveness in the semiconductor business, reduce reliance on foreign production, and offset supply chain issues.<\/p>\n<p>The CHIPS Act was initially introduced in 2020 by Texas Republicans Sen. John Cornyn and Rep. Michael McCaul, and incorporated into of the 2021 National Defense Authorization Act.<\/p>\n<p>This year, the initial version cost taxpayers $76 billion, was 73 pages long and less than an inch thick printed out, Sen. Rick Scott (R-Fla.) notes. Now it\u2019s more than 1,000 pages long and roughly one foot thick and full of \u201creckless spending,\u201d he argues. It also gives the Biden administration \u201ca wide-open door to push its terrible Green New Deal policies,\u201d he said.<\/p>\n<p>Cornyn said that if the United States \u201clost access to advanced semiconductors (none made in U.S.) in the first year, national GDP could shrink by 3.2 percent and we could lose 2.4 million jobs.\u201d The GDP loss would be three times larger than 2021\u2019s loss due to the chip shortage ($718 billion compared to $240 billion). Over three years, he estimates, a more than $2 trillion GDP loss and an estimated \u201c5 million people losing their jobs\u2014a cumulative GDP loss over 9 percent and employment loss of 3.5 percent over that period.\u201d<\/p>\n<p>Texas Gov. Greg Abbott points out that \u201cTexas is a national leader in the semiconductor industry\u201d that employs more than 30,000 Texans. Last year, Samsung and Texas Instruments announced historic investments up to $47 billion to manufacture semiconductors in north Texas, pledging<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While some Texas Republicans are urging Congress to pass a $250 billion CHIPS Act, Florida\u2019s Republican U.S. senators are opposing it, arguing it will continue to drive \u201cBiden\u2019s inflation crisis,\u201d is a pro-China bill and gives billions of dollars to companies with no accountability. Proponents of the CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act [\u2026]<\/p>\n","protected":false},"author":233,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1567131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1567131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/233"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1567131"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1567131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1567131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1567131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1567131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}