Congress is itching to pass a sweeping bipartisan package that threatens to enshrine a new Cold War, this time against China, and they’re counting on the American public’s inattention to get it through by the end of the year. After months of stalling in the House, and a failed attempt to attach the legislation to the annual defense bill, majority leader Chuck Schumer and Speaker Nancy Pelosi struck a deal this week for a bicameral conference on the anti-China legislation.
The US Innovation and Competition Act is a massive piece of legislation purporting to make the United States more “competitive” with China economically, politically, and technologically. Mainstream media outlets and lawmakers have framed the bill as the most expansive industrial policy legislation in US history, and as being crucial for countering China’s economic rise.
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