Biden is quietly on the cusp of a major legislative victory

[Yo_Mama_Been_Loggin]

Some Washington watchers were puzzled during President Biden's State of the Union address last month when he said it was "so important" for Congress to pass something called the "Bipartisan Innovation Act." To the best of just about anyone's knowledge, no such legislation existed.

Save the "senior moment" wisecracks. Biden was breaking out a new name for a couple of bills making their way through the House and Senate. While those bills are broadly similar in substance (a big subsidy for domestic semiconductor manufacturing, as well as increased funding for research and supply chain initiatives) and size ($350 billion for the House bill; $250 billion for the Senate version), each has a different name. And since the $1.2 trillion Bipartisan Infrastructure Law is a notable Biden achievement — and since the president often jokes about his lucky Irish heritage — why not give whatever Congress ends up passing a similar name? For good luck, if nothing else.

Oh, and there was probably one other reason for a new name: Surely few Americans have ever heard of the House's America Competes Act or the Senate's U.S. Innovation and Competition Act, despite their huge price tags. But they might want to get up to speed, ASAP. Although the dollar amounts pale compared to Biden's moribund $2 trillion Build Back Better proposal, these bills — once they're smooshed together — actually have a good chance of passing. The House version doesn't need any GOP votes, while the Senate version passed in bipartisan fashion, 68-32.

Although the Biden policy agenda may seem stuck at the moment, the president could be on the verge of a significant accomplishment. While Wall Street thinks there's maybe a one-third chance that some version of Biden's BBB plan passes — about the same as current recession odds — the eventual Bipartisan Innovation Act is seen as more likely than not.

https://www.yahoo.com/news/biden-quietly-cusp-major-legislative-155107833.html

[Hoyt]

1. Think Bernie Sanders is upset about semiconductor legislation.

[Metaphorical]

2. I'm glad to see this

The US got caught with its pants down in the semiconductor sector before and during the Pandemic. A fire at a chip fab in Japan in 2019 and then the shutdown of semiconductor transport from China and S. Korea in 2020 rippled through many other industries. It drove home that chip manufacturing has become a matter of national security and that we risked losing a competitive advantage in an area that the US has traditionally dominated.

[lagomorph777]

3. The semiconductor supply chain problems are hurting multiple industries -

- and national security. This is a critical need.

[LT Barclay]

4. Probably also a national security issue

[lagomorph777]

5. Most definitely a national security issue.

[GB_RN]

6. Medical Supplies & Pharmaceuticals Need To Be Brought Back, Too

Having those critical supplies made in China is bad for national security.