Schumer Files Bipartisan U.S. Innovation And Competition Act Of 2021 As Substitute Amendment To Endless Frontier Act
Comprehensive Legislation Incorporates Bipartisan Agreements From Across Senate Committees To Enhance American Competitiveness With Countries Like China And Grow Good-Paying Jobs, And Funding To Implement Bipartisan Programs To Strengthen The American Semiconductor Industry And Manufacturing Base
Senate Majority Leader Chuck Schumer today filed the bipartisan U.S. Innovation and Competition Act of 2021 as a substitute amendment to the Endless Frontier Act. The bipartisan substitute amendment brings together the already-bipartisan Endless Frontier Act from Leader Schumer and Sen. Todd Young (R-IN), which passed the Senate Commerce committee last week and includes more than twenty bipartisan amendments, the Menendez-Risch Strategic Competition Act of 2021, the Brown-Toomey Meeting the China Challenge Act of 2021, as well as bipartisan legislation from the Senate Homeland Security and Government Affairs Committee, HELP Committee, Judiciary Committee, and Appropriations Committee.
The Schumer substitute amendment also includes $52 billion in emergency funding to implement the bipartisan CHIPS Act included in last year’s National Defense Authorization Act (NDAA) and a program to support legacy chip production that is essential to the auto industry, the military, and other critical industries. An additional $1.5 billion is provided for the implementation of the USA Telecommunications Act that was also passed as part of last year’s NDAA to foster U.S. innovation in the race for 5G.
“The U.S. Innovation and Competition Act of 2021 will jumpstart American competitiveness and make one of the most significant government investments in American innovation and manufacturing in generations,” said Senate Majority Leader Chuck Schumer. “I’m proud that this bipartisan legislation is the product of hard work from more than a half-dozen Senate committees and includes input from nearly every member of the Senate. This legislation will allow the United States to out-compete countries like China in critical technologies like semiconductors, create good-paying American jobs and help improve our country’s economic and national security.”
A section-by-section summary of the United States Innovation and Competition Act of 2021 can be found here and the text of the legislation can be found here.
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