United States Innovation and Competition Act

Floor Speech

BREAK IN TRANSCRIPT

Mr. DURBIN. Madam President, last year, for the first time in more than two decades, America's economy grew faster than China's. That is incredible. Let's keep that streak going by passing USICA, the bipartisan U.S. Innovation and Competition Act. We need to promote products made in the United States by Americans and purchased in the United States. We passed it in the Senate last June by a vote of 2 to 1. The House passed its version last Friday. Let's go to conference and get this bill into law. If we negotiate in good faith, I believe we can do that.

I want to thank Leader Schumer and Senator Young, a Republican from Indiana, for their leadership.

This will boost competitiveness with China and help to reindustrialize America, make investments in manufacturing and research, and provide seed money to create good new jobs. Importantly, it includes $52 billion for research and designing and manufacturing semiconductor chips--what Senator Cantwell, chair of the Commerce Committee, calls the ``oil of the 21st century.'' Let's agree to make those chips here in America and not be dependent on importing them from China.

USICA also allows for new sanctions against China for human rights violations. We can stand up for American workers and American values.

BREAK IN TRANSCRIPT

Source