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Carter: CHIPS and Stagflation Act is a swing and a miss

WASHINGTON, D.C. – The House today passed the Senate Amendment to H.R. 4346, the CHIPS and Science Act, which spends more than $50 billion taxpayer dollars during an inflation-driven recession. Rep. Earl L. “Buddy” Carter (R-GA) voted in opposition.

While this legislation was originally intended to be a strong bipartisan investment in U.S. microchip manufacturing to combat the Chinese Communist Party, Washington Democrats thwarted those efforts and instead produced a limited package focused solely on taxpayer-funded microchip production.

“This bill, more aptly named the CHIPS and Stagflation Act, lacks the courage to stand up to the Chinese Communist Party. On the same day our economy is officially declared to be in a federal spending-driven recession, Washington Democrats are advancing a bill to spend billions more,”
said Rep. Carter. “All sectors of our economy are hurting – the government cannot be in the business of picking winners and losers.”

Rep. Carter was appointed as a conferee to the joint China committee that was, ultimately, cut out of these negotiations.

“I’m disappointed that Washington Democrats failed to deliver on their promise to work with Republicans on a comprehensive plan to combat the rise of China. From inflation to national security, this bill will make every one of the Biden Administration’s crises even worse,”
said Rep. Carter.