onsdag 9. juni 2021

Senate passes massive bipartisan bill to combat China's growing economic influence

The Senate passed rare bipartisan legislation on Tuesday aimed at countering China's growing influence by investing more than $200 billion in American technology, science and research. The final vote was 68-32. Independent Sen. Bernie Sanders of Vermont was the only member of the Democratic caucus to vote against the bill. Nineteen Senate Republicans joined Democrats voting for passage.

Passage is a victory for Majority Leader Chuck Schumer, a New York Democrat who co-wrote and strongly backed the measure, and for President Joe Biden, who made reaching across the aisle a central promise of his governing strategy, although he has faced criticism for moving unilaterally on his largest agenda items to this point.

The sweeping legislation -- called the US Innovation and Competition Act -- aims to confront China's influence on multiple fronts and "will supercharge American innovation and preserve our competitive edge for generations to come," Schumer said. The bill still needs to pass the House before going to Biden's desk. The House Foreign Affairs Chairman Gregory Meeks introduced a corresponding bill in the House last month but it's not clear when that legislation will get a vote.