Calling it “a subsidy to Big Tech,” US Sen. John N. Kennedy voted against a $290 billion bill that won bipartisan approval this past week to subsidize manufacturing technology companies and boost spending on scientific research.
“These are wonderful American companies that Congress is helping,” Kennedy said in an interview. “But it’s very profitable, and the supply of chips is increasing now. My only concern is the amount of money. For that amount, we could have doubled the R&D tax credit for every company in America.
Kennedy, a Republican from Madisonville, is up for re-election this year, and his top three Democratic opponents have all said they support the bill, which aims to counter the growing high-tech industry. in China by subsdizing US production
“The CHIPS Act gives Sen. Kennedy and the opportunity to side with China or the Americans on national security, jobs, and the rising cost of necessities like the family car. Kennedy chose China,” Gary Chambers Jr., a social justice activist from Baton Rouge, said in a statement. “My opponent said that NONE of this bipartisan investment in domestic chip manufacturing will lower costs. of goods for hard-working Americans, will create thousands of manufacturing jobs here in the US, and will strengthen America’s position as a leader in technological development. That’s not surprising. “
Contradicted Kennedy: “I heard the argument about the Chinese threat. I understand that. People say it’s an investment, not an expense. But I fear that we have entered a period of stagflation. We have to freeze our spending at what is in the budget and only spend more money on defense, for obvious reasons.
The Senate passed the CHIPS Act with 17 out of 50 Republicans voting in favor, including Sen. Bill Cassidy.
“Senator Kennedy talks a lot, but he does nothing,” said Luke Mixon, a former Navy fighter pilot who now lives in Baton Rouge and flies for Delta Air Lines. “He has the opportunity to lower costs for Louisiana families, create good American jobs, reduce our dependence on foreign countries, and strengthen our national security. But once again, he chose the party politics over the good of our state and our country. I would have been proud to join Sen. Cassidy in voting to pass the CHIPS Act.”
Syrita Steib, who runs a New Orleans-based nonprofit that aims to help incarcerated women after their release, also criticized Kennedy.
“Why did Sen. Kennedy continue to vote against legislation that would immediately strengthen our state and national economy and supply chain?” he asked in a statement. “The CHIPS Act will bring semiconductor manufacturing and spur research and development to the US and help alleviate some of the inefficiencies we currently experience in our supply chain.”