The US Senate on Wednesday, 27 July, passed a $280 billion bill that would aim to give the country a manufacturing and technological advantage to counter China.
Federal money, according to the policy, will be invested into cutting-edge technologies to strengthen the industrial, technological, and military dimensions of the United States.
An overwhelming bipartisan in industrial policy, the bill passed by 63 to 33. 17 Republicans voted in favour.
The legislation is part of the US government's unity in creating a long-term strategy to curtail the continuous rise of China.
"No country’s government – even a strong country like ours – can afford to sit on the sidelines," said Senator Chuck Schumer, Senate Majority Leader, according to the New York Times.
The Manchin U-Turn
Democratic Senator Joe Manchin from West Virginia has announced that he will support a domestic policy bill that would reduce national debt and address the climate crisis.
The move comes as a surprise given that he has rebelled against his party's latest proposals, especially with respect to the climate.
The policy package is called the Inflation Reduction Act of 2022 and included "realistic energy and climate policy," Manchin said.
Only two weeks ago, he was totally against raising taxes on rich Americans and objected to supporting more funding for climate action.
On his relationship with Schumer, Manchin said, "It's like two brothers from different mothers, I guess. He gets pissed off, I get pissed off, and we’ll go back and forth. He basically put out statements, and the dogs came after me again. We just worked through it," as reported by Politico.
(With inputs from Reuters, NYT, and Politico.)
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