House bill targets manufacturing, research and trade rules
The House legislation would set aside billions of dollars to bolster research and manufacturing.
It would provide $52 billion over five years to boost semiconductor research, design and manufacturing in the United States, according to a summary of the bill provided by House Democrats.
It would also provide $45 billion over six years in grants and loans to improve the nation's supply chains and to boost American manufacturing of goods deemed critical for national security and the US economy -- like products for public health, communications technology and food -- according to the summary.
It would set aside another $3 billion for the nation's solar manufacturing supply chain, aiming to reduce the country's reliance on China for parts.
On trade policy, the bill includes a number of changes aimed at creating a level playing field for American businesses.
It would strengthen US anti-dumping and countervailing duty rules and reauthorize two key tariff relief programs, known as the Miscellaneous Tariff Bill program and the Generalized System of Preferences. It would also renew a program called Trade Adjustment Assistance that provides aid to American workers who lose their jobs or whose wages are reduced as a result of increased imports. The bill would also empower the Office of the US Trade Representative to review and potentially block US companies from moving manufacturing abroad if the product is critical to the nation's supply chain or a threat to national security.
The bill would also invest $160 billion in scientific research and innovation, boosting overall funding for the Department of Energy's Office of Science and the National Science Foundation.
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