The House on Thursday passed a $280 billion package to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the United States and help it better compete with international rivals, namely China. McCarthy continued his criticism of the legislation, outlining the bill’s mandatory spending while the country is possibly entering into a recession as the U.S. economy has shrunk for two straight quarters. A reporter asked, “Your side whipped against this Chips Bill uh there’s a concern that you say they have no plan here”
McCarthy: this was a bipartisan package it was not a bipartisan package.
Reporter: you have 24 members on your side your side
McCarthy: that’s your definition of bipartisan? You know the real challenge here. Republicans had a plan for chips. We actually produced one in the China task force. You had a bipartisan plan that started in the Senate. Then you had a Speaker of the House go against our own committees where you had bipartisan work inside the house from the science committee and others and delayed this entire bill for a year and then in the process of coming back you had to shrink it. But what did the Senate do on their side? They made it mandatory spending, they took a problem where we had a solution and they wrapped it into it making it even worse and compounding it when we have a recession when we have a fiscal problem they put it into mandatory spending when we should have focused simply on chips in 2017. When republicans were in the majority we put it in the NDAA that it is an important problem that we need to solve the Democrats took the majority they ignored it every chance that we worked bipartisan on this even when we asked the speaker to put a china committee together even when it took me eight months to get her to agree even when the Washington Post came in and sat down because they were rolling it out Republicans and Democrats alike and the night before they stopped it we went forward and we produced a plan to make sure chips were back and being built in America every element of this Nancy Pelosi has put up roadblocks and challenged it and made it political and controversial.
Reporter: that still wasn’t a vote against jobs yesterday
McCathy: no it wasn’t against jobs yesterday. I just walked you through it from a mandatory party.
Reporter: I understand that you don’t like how the mechanics of how it came out but
McCarthy: well you think it’s just mechanics or you think it’s long term what is our biggest fiscal challenge no is it going to take away from jobs does 30 trillion dollars in debt harm jobs yes does a recession harm jobs yes could you have done it in a bipartisan manner yes did we try to do it yes every element that we worked for on this was bipartisan every element that went forward Pelosi put up roadblocks and even didn’t take it through committee put all in her build back better climate change through and harmed the process to even make it happen.
On 7/31/2022, Democrat Joe Manchin claimed Biden’s ‘Inflation Reduction Act’ lowers energy costs and doesn’t raise taxes. CBS’s “Face the Nation” host John Dickerson played a clip of Manchin from 2010 saying taxes should never be increased during a time of recession. Manchin defended Biden’s tax-and-spend bill and said it’s “all about” fighting inflation. “This is fighting inflation…this [bill] is going to take care of that because this is aggressively producing more energy to get more supply to get the prices down,” said Manchin. He continued, “We didn’t raise taxes…I’m not raising any taxes!” John Dickerson pushed back on Manchin and challenged him on his inflation claims.
Senator Joe Manchin surprised people when he announced his support for Joe Biden’s green new deal funded by nearly $800 billion in new tax hikes. Manchin struck a deal with Schumer to pass the “Inflation Reduction Act of 2022” through reconciliation (no Republicans needed to pass the bill).
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McCarthy: Chips bill is not bipartisan. Manchin: Inflation Reduction Act lowers costs & not raise taxes.