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McConnell threatens to BLOCK semiconductor bill if Dems bring back Build Back Better

Mitch McConnell Threatens to BLOCK $52 Billion in Funding for Semiconductor Industry to Fight China AS Democrats Try to Revive the Build Back Better Bill with Joe Manchin by Their Side

  • Senate leader Mitch McConnell threatened to swallow a bipartisan bill spending $52 billion on the semiconductor industry to compete with China
  • “Let me be perfectly clear: There will be no bipartisan USICA as long as Democrats push for a partisan appeasement bill,” McConnell said Thursday.
  • Senate Majority Leader Chuck Schumer in talks with moderate Democratic Senator Joe Manchin to revive parts of the Build Back Better Act
  • On the table is a price cap for prescription drugs, which Democrats rejected McConnell because he was against
  • Press secretary Karine Jean-Pierre called McConnell’s threat “shocking” and “outrageous” in a statement Thursday night
  • “Republicans in the Senate are literally choosing to help China beat the US to protect big pharmaceutical companies,” Jean-Pierre said.

Mitch McConnell, a Senate minority leader, has threatened to introduce a bill that would put $52 billion into the semiconductor industry to compete with China if Democrats try to revive President Joe Biden’s Build Back Better plan.

“Let me be perfectly clear: There will be no bipartisan USICA as long as Democrats push for a partisan appeasement bill,” McConnell tweeted late Thursday afternoon, using the acronym for the United States Innovation and Competition Act.

Press Secretary Karine Jean-Pierre called McConnell’s threat “shocking” and “outrageous” in a statement issued when President Joe Biden returned to the White House after his two-country trip to Europe.

Senate Leader Mitch McConnell threatened a bipartisan bill giving $52 billion to the semiconductor industry to compete with China as Democrats try to revive President Joe Biden's Build Back Better plan

Senate Leader Mitch McConnell threatened a bipartisan bill giving $52 billion to the semiconductor industry to compete with China as Democrats try to revive President Joe Biden’s Build Back Better plan

“Let me be perfectly clear: There will be no bipartisan USICA as long as Democrats push for a partisan appeasement bill,” McConnell tweeted late Thursday afternoon, using the acronym for the United States Innovation and Competition Act.

“Let me be perfectly clear: There will be no bipartisan USICA as long as Democrats push for a partisan appeasement bill,” McConnell tweeted late Thursday afternoon, using the acronym for the United States Innovation and Competition Act.

President Joe Biden waves to reporters as he returns to the White House on Thursday after meeting G7 and NATO leaders in Germany and Spain.  Press secretary Karine Jean-Pierre called McConnell's threat 'shocking' and outrageous'

President Joe Biden waves to reporters as he returns to the White House on Thursday after meeting G7 and NATO leaders in Germany and Spain. Press secretary Karine Jean-Pierre called McConnell’s threat ‘shocking’ and outrageous’

Senate Majority Leader Chuck Schumer has spoken with moderate Democratic Senator Joe Manchin — whose ‘no’ threat killed the House-approved Build Back Better bill in December — to get pieces of the package over through reconciliation. before the November midterms.

The Democrats can use reconciliation on certain spending bills, which go around the Senate filibuster, meaning they only need the party’s 50 votes, and Vice President Kamala Harris serves as a tie-breaker.

One of those provisions would be to lower the price of prescription drugs.

Biden has pointed to parts of Build Back Better as a way to help Americans save money during this period of soaring inflation.

Jean-Pierre insisted that it was Republicans owed to the prescription drug industry that motivated McConnell’s behavior.

“The Republican Senate leader is holding hostage a bipartisan package to bolster U.S. competitiveness against China that would create hundreds of thousands of manufacturing jobs in places like Southern Ohio, Idaho and other states in the country,” she said. “It would reduce the cost of countless products and end our dependence on imports.”

‘Why?’ she continued. “To protect the ability of large pharmaceutical companies to manipulate prices.”

“Republicans in the Senate are literally choosing to help China beat the US to protect big drug companies,” she said. This takes loyalty to special interests over working Americans to a new and shocking height.

Jean-Pierre added: “We will not shy away from this scandalous threat.”

Schumer spokesman Justin Goodman echoed Jean-Pierre in a tweet from Thursday.

‘Sen. McConnell is so committed to PhRMA that he is willing to help China, harm U.S. manufacturing and cheat Americans with insanely high Rx prices,” Goodman said.

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