Bioeconomy Research and Development Act of 2021

Floor Speech

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Mr. KIM of California. Madam Speaker, I rise today in support of my amendment to direct the National Science Foundation to conduct a study on the impact of inflation. Specifically, the National Science Foundation will examine the effect of inflation on cost-of-living, American workforce wages, America's international competitiveness, and its impact on underserved communities.

Hardworking California workers and families in my district are seeing the impacts of inflation each day and are bearing the brunt of this 40- year inflation high, and unfortunately prices on everything from the gas pump to the grocery store in California are more expensive. While nominal wages and salaries have increased since December 2020, inflation-adjusted wages fell by 4.3 percent at an annual rate over the last three months. The price of everyday goods for Americans-- especially for those at lower-income levels--has increased so fast that any gains in real wages and compensation have fallen.

During one of the worst inflation crises the U.S. has faced, Speaker Pelosi wants to put $8 billion in taxpayer dollars in a UN climate slush fund that we have zero oversight over and that China has already taken $100 million from.

I have worked tirelessly with my colleagues on the Committee on Science, Space and Technology to produce thoughtful, targeted and bipartisan STEM bills to promote U.S. leadership in STEM research and development and create American jobs. Throwing taxpayer money at the CCP does the opposite and worsens the inflation crisis.

I urge my colleagues to adopt this amendment.

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