January 28, 2022
The Federal Relations Team is tracking the America COMPETES Act of 2022 (America Creating Opportunities for Manufacturing, Pre-Eminence in Technology, and Economic Strength Act). Debuted by the House of Representatives this week, The America COMPETES Act of 2022 brings Congress one step closer to bolstering innovation, research, and manufacturing in the United States to ensure U.S. leadership in those areas. The advancement of the America COMPETES Act in the House sets the stage for a conference committee to resolve differences between the Senate’s U.S. Innovation and Competition Act (USICA) this spring.
Key legislative proposals outlined in the COMPETES Act include the following:
- Provisions to incentivize private sector investments in semiconductor fabrication
- Investments to improve challenges in the American supply chain
- Funding for research and innovation in science and technology
- Expanded investments in global partnerships to foster diplomacy and American economic leadership
The Federal Relations Team will continue to track developments with the America COMPETES Act, including the conferencing process that will resolve differences between the House and Senate legislation.
To read more about the America COMPETES Act in the House, visit: H.R. 4521
To read more about the U.S. Innovation and Competition Act in the Senate, visit: S. 2160