House Democrats Release Their Tech and Competition Package
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Quote of the Day
“In 1834, exactly a century before the SEC was established, the Blanc brothers in Bordeaux, France, committed the world’s first hack. The two bankers bribed telegraph operators to tip them off as to the direction the market was headed. Therefore, they gained an information advantage over investors who waited for the information to arrive by mail coach from Paris.” — Securities and Exchange Commission (SEC) Chair Gary Gensler
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However, the Federal Bureau of Investigation does not apparently agree with Gensler.
Some number of months after the United States (U.S.) Senate sent the “United States Competition and Innovation Act” (S.1260) to the House (see here and here for more detail and analysis), the leadership of the U.S. House has worked out a massive package (more than 2900 pages) chock full of policy issues the Senate bill did not encompass.
A number of committees announced the release of the “America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strength Act of 2022” (aka the America COMPETES Act of 2022) (H.R.4521) and asserted in their press release that the bill “includes a historic investment to surge production of American-made semiconductors, tackles supply chain vulnerabilities to make more goods in America, turbocharges America’s scientific research and technological leadership, and strengthens America’s economic and national security at home and abroad.” The committees issues a section-by-section and a fact sheet.