{"id":1576980,"date":"2022-07-28T16:00:25","date_gmt":"2022-07-28T20:00:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1576980"},"modified":"2022-07-28T16:00:30","modified_gmt":"2022-07-28T20:00:30","slug":"house-passes-massive-semiconductor-subsidy-bill-despite-gop-efforts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-passes-massive-semiconductor-subsidy-bill-despite-gop-efforts\/","title":{"rendered":"House Passes Massive Semiconductor Subsidy Bill Despite GOP Efforts"},"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\">18<\/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%2Fhouse-passes-massive-semiconductor-subsidy-bill-despite-gop-efforts%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=1576980&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>The House of Representatives passed the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act on Thursday, despite opposition from <a href=\"https:\/\/www.dailywire.com\/topic\/republican-party\">Republicans<\/a> who argued that the bill would funnel billions in taxpayer money toward corporations.<\/p>\n<p>The House passed the bill in a 243-187 bipartisan vote, while it <a href=\"https:\/\/www.dailywire.com\/news\/corporate-welfare-or-needed-investment-to-beat-china-senate-passes-computer-chips-subsidy-bill\">passed<\/a> the Senate on Wednesday 64-33.\u00a0The bill will dedicate $52 billion in government subsidies for companies that make computer chips, provide $24 billion in tax credits, and put forth $170 billion in scientific research over the next five years. Shortly after the bill passed, Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV) announced they had compromised on a bill that would raise taxes and fund climate change initiatives worth nearly $700 billion.<\/p>\n<p>Prior to the vote, House Minority Leader Kevin McCarthy blasted the federal government for its spending and implored his colleagues to oppose the legislation.<\/p>\n<p>\u201cThe Senate passed a bill that took a small, discretionary program and turned it into a $280 billion blank check, including $79 billion in mandatory spending on corporate welfare to be handed out to whoever President Biden\u00a0wants,\u201d McCarthy said from the House floor.<\/p>\n<p>\u201cI\u2019m a no on the Senate CHIPS bill that will come to the floor today. I was a no last week. I was a no last night. And I will be the first no on the board today,\u201d McCarthy said. \u201cI encourage all my Republican colleagues to join me.\u201d<\/p>\n<p>Rep. Thomas Massie (R-KY) noted that even Senator Bernie Sanders (I-VT) was against the bill because it favors corporations.<\/p>\n<p>\u201cSenator @BernieSanders said the senate CHIPS Act is \u2018a $53 billion bribe\u2019 that semiconductor companies demanded in exchange for staying in the United States,\u201d Massie tweeted. \u201cHe\u2019s right. Taking money from working Americans and giving it to profitable corporations is immoral and won\u2019t even work.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">Senator <a href=\"https:\/\/twitter.com\/BernieSanders?ref_src=twsrc%5Etfw\">@BernieSanders<\/a> said the senate CHIPS Act is \u201ca $53 billion bribe\u201d that semiconductor companies demanded in exchange for staying in the United States.<\/p>\n<p>He\u2019s right.<\/p>\n<p>Taking money from working Americans and giving it to profitable corporations is immoral and won\u2019t even work.<\/p>\n<p>\u2014 Thomas Massie (@RepThomasMassie) <a href=\"https:\/\/twitter.com\/RepThomasMassie\/status\/1552681519956824064?ref_src=twsrc%5Etfw\">July 28, 2022<\/a><\/p>\n<p>House Majority Leader Steny Hoyer (D-MD) argued that the bill \u201cbolsters domestic manufacturing, creates good-paying jobs, and fights inflation, advancing the #MakeItInAmerica agenda: education, entrepreneurship, infrastructure, and supply chain resilience.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">The CHIPS and Science Act bolsters domestic manufacturing, creates good-paying jobs, and fights inflation, advancing the <a href=\"https:\/\/twitter.com\/hashtag\/MakeItInAmerica?src=hash&#038;ref_src=twsrc%5Etfw\">#MakeItInAmerica<\/a> agenda: education, entrepreneurship, infrastructure, and supply chain resilience. <a href=\"https:\/\/t.co\/zkkr9g8kDU\">pic.twitter.com\/zkkr9g8kDU<\/a><\/p>\n<p>\u2014 Steny Hoyer (@LeaderHoyer) <a href=\"https:\/\/twitter.com\/LeaderHoyer\/status\/1552620891653144577?ref_src=twsrc%5Etfw\">July 28, 2022<\/a><\/p>\n<p>McCarthy also used his floor speech to warn against the Manchin-Schumer Inflation Reduction Act.<\/p>\n<p>\u201cThey say they want to restore growth, but their new bill adds $700 billion in new taxes,\u201d McCarthy added. \u201cDo Democrats really believe spending hundreds and billions of tax dollars right now while pursuing and punishing productive investments in the long run will lower inflation?\u201d<\/p>\n<p><strong>Related<\/strong>: <a href=\"https:\/\/www.dailywire.com\/news\/corporate-welfare-or-needed-investment-to-beat-china-senate-passes-computer-chips-subsidy-bill\">Corporate Welfare Or Needed Investment To Beat China? Senate Passes Computer CHIPS Subsidy Bill<\/p>\n<p><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House of Representatives passed the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act on Thursday, despite opposition from Republicans who argued that the bill would funnel billions in taxpayer money toward corporations. The House passed the bill in a 243-187 bipartisan vote, while it passed the Senate on Wednesday 64-33.\u00a0The bill will &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1577123,"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-1576980","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\/1576980","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1576980"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1576980\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1577123"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1576980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1576980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1576980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}