This segment of What’s Ahead hammers home the truth that getting Washington politicians involved in any business, especially advanced technology, is always a bad idea. Yet congressional Republicans, especially in the Senate, are rushing through a $280 billion boondoggle of a bill that showers tens of billions of dollars in subsides to the semiconductor industry and gives some $200 billion more in “government-guided” schemes to make us “more competitive” with China.
What Intel and would-be beneficiaries ignore is that Washington largesse comes with awfully strong visible and invisible strings attached.
Our strength is in free markets, where innovators can rise and thrive, not in government bureaucrats making politically motivated decisions.
The bill resembles something one would expect from a communist congress in Beijing or North Korea. This piece of legislation will weaken us.
Source: https://www.forbes.com/sites/steveforbes/2022/07/26/gop-senators-signing-on-to-a-bad-and-counterproductive-idea-warns-steve-forbes/