Bill to boost US tech innovation could bring big bucks to Cincinnati – WLWT Cincinnati

A bill that aims to reinvigorate Americas technological footprint has passed the Senate. The Innovation and Competition Act aims directly at keeping pace with Chinas global economic influence. Billions of dollars will pay for research, making the United States a more competitive global market. And a big chunk of that money could be available in Cincinnati.Greater Cincinnati is a great place to make an investment in research, Ohio Republican Sen. Rob Portman said. Portman sees the U.S. Innovation and Competition Act as a big step in the future of our country and keeping American innovation moving forward. This is a bill about responding to the threat we face from places like China where our research is both behind in some cases, but also being taken by China and other countries, Portman said. 5G technology, supporting space exploration, developing regional technology hubs like Cincinnati and more are on the table.Vice President Kamala Harris recently visited the University of Cincinnati Innovation Center which could see some of this funding.I brought the vice president to Cincinnati a couple of weeks ago to look at what Cincinnati's doing. It's up to us to make it a little bit easier for people in the community, Democratic Ohio Sen. Sherrod Brown said. Brown says the money will be left up to leaders in the city to request and the Brent Spence Bridge may benefit. On the other side, Republican Kentucky Sen. Rand Paul was one of the 32 no votes. He calls it wasteful spending. He was able to add a late amendment to make sure funding doesn't go to China. For many years we worried about Russia this, Russia that. It turns out after the Cold War ended, they were behind 20 years and weren't good at technology because communism and socialism doesn't work well. So, I guess I don't see it as sort of as imminent threat as others do, Paul said. Portman agrees money shouldnt be allowed to go to China. This bill should benefit the American people.In particular, he says, reducing our reliance on foreign products like the current semiconductor shortage. He sees becoming a major producer for those parts as a good fit for Ohio. If you try to go buy a car today, even a used car, youll find that the prices are pretty high and a lot of its because the semiconductors that we rely on for our vehicles, as well as a lot of the electronics and other things, are in short supply right now. So, it helps in this bill because it establishes some incentives to create fabrication here in this country so we're not relying on countries like Taiwan, or Korea or China for semiconductors, Portman said. This bill has only passed the Senate and does need to clear the house but is expected to have the votes to pass.President Biden says he looks forward to signing it into law as soon as possible.Kentucky Republican Senate Minority Leader Mitch McConnell voted yes on the bill, as did Indiana Republican Sen. Todd Young, who was one of the authors of the bill. Indiana Republican Sen. Mike Braun voted no.

A bill that aims to reinvigorate Americas technological footprint has passed the Senate.

The Innovation and Competition Act aims directly at keeping pace with Chinas global economic influence.

Billions of dollars will pay for research, making the United States a more competitive global market. And a big chunk of that money could be available in Cincinnati.

Greater Cincinnati is a great place to make an investment in research, Ohio Republican Sen. Rob Portman said.

Portman sees the U.S. Innovation and Competition Act as a big step in the future of our country and keeping American innovation moving forward.

This is a bill about responding to the threat we face from places like China where our research is both behind in some cases, but also being taken by China and other countries, Portman said.

5G technology, supporting space exploration, developing regional technology hubs like Cincinnati and more are on the table.

Vice President Kamala Harris recently visited the University of Cincinnati Innovation Center which could see some of this funding.

I brought the vice president to Cincinnati a couple of weeks ago to look at what Cincinnati's doing. It's up to us to make it a little bit easier for people in the community, Democratic Ohio Sen. Sherrod Brown said.

Brown says the money will be left up to leaders in the city to request and the Brent Spence Bridge may benefit.

On the other side, Republican Kentucky Sen. Rand Paul was one of the 32 no votes. He calls it wasteful spending. He was able to add a late amendment to make sure funding doesn't go to China.

For many years we worried about Russia this, Russia that. It turns out after the Cold War ended, they were behind 20 years and weren't good at technology because communism and socialism doesn't work well. So, I guess I don't see it as sort of as imminent threat as others do, Paul said.

Portman agrees money shouldnt be allowed to go to China. This bill should benefit the American people.

In particular, he says, reducing our reliance on foreign products like the current semiconductor shortage. He sees becoming a major producer for those parts as a good fit for Ohio.

If you try to go buy a car today, even a used car, youll find that the prices are pretty high and a lot of its because the semiconductors that we rely on for our vehicles, as well as a lot of the electronics and other things, are in short supply right now. So, it helps in this bill because it establishes some incentives to create fabrication here in this country so we're not relying on countries like Taiwan, or Korea or China for semiconductors, Portman said.

This bill has only passed the Senate and does need to clear the house but is expected to have the votes to pass.

President Biden says he looks forward to signing it into law as soon as possible.

Kentucky Republican Senate Minority Leader Mitch McConnell voted yes on the bill, as did Indiana Republican Sen. Todd Young, who was one of the authors of the bill. Indiana Republican Sen. Mike Braun voted no.

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Bill to boost US tech innovation could bring big bucks to Cincinnati - WLWT Cincinnati