I, too, want to express my appreciation to Senator Crapo. We are partners in the Senate Finance Committee. As Senator Crapo really touched on, we know that sometimes around here in the Senate, it is hard to get Senators to agree on the proper way to butter a piece of toast. But what Senator Crapo and I have tried to show--and I believe this amendment does it--is that the Senate is going to come together on the urgency of outcompeting China, and that is what our legislation is all about. Senator Crapo ticked off a number of the key measures. Obviously we feel very strongly. We spent weeks looking at it in hearings and in discussions--at how China rips off our intellectual properties, steals technology, sends dangerous counterfeits to our market, and how it undercuts manufacturers with overproduction and unfair subsidies. The fact is, the Chinese have deployed massive subsidies, incentivized overproduction in key manufacturing sectors like steel, aluminum, and solar panels, that undercuts our competitors. They have shaken down American firms for intellectual property and stolen cutting-edge technology. Worst of all, colleagues, is the practice of forced labor, which we looked at in the Senate Finance Committee. It is morally repugnant on its own, and it is also a very substantial threat to American jobs.…
On the recordMay 27, 2021
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