NDIA welcomes Senate support of Innovation and Competition Act
ARLINGTON, VA — The National Defense Industrial Association applauds the Senate’s passage of the U.S. Innovation and Competition Act. In a 68-32 vote, the Senate showed broad support for the need to bolster U.S. manufacturing, technological innovation and competitiveness against pacing threats from China.
Sen. Chuck Schumer (D-NY) introduced the act, formerly known as the Endless Frontier Act, with bipartisan co-sponsorship from 13 senators. The legislation includes $52 billion to assist American manufacturers of semiconductors production in response to the global shortage, and $81 billion to support innovation efforts led by the National Science Foundation.
In response to China’s aggression and its abuse of foreign trade practices, the bill looks to strengthen partnerships with allies, such as Australia and Japan, and to halt the importation of products made with stolen intellectual property. It also allows the U.S. president to impose sanctions against any entities that have benefited from intellectual theft on behalf of China against the United States.
The National Defense Industrial Association will follow the Endless Frontier Act as it goes to the House of Representatives for consideration.
For media queries, please contact Evamarie Socha at the information listed below.
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