Kevin Brady: “I thank Mr. Lucas for his leadership on science, which is of so much importance to our country. It is official; we are…”

“I thank Mr. Lucas for his leadership on science, which is of so much importance to our country. It is official; we are in a recession. Joe Biden's economy is a cruel economy. Americans are finding this out more and more each day. This morning's economic report shows negative economic growth. Inflation is crushing our families, our small businesses, and our entire economy. Now, Democrats have confirmed that CHIPS is a green light for higher taxes, corporate welfare, and, even worse, inflation in the future. They are insisting on hundreds of billions of tax increases on companies that build and make in America. They are insisting on unleashing 80,000 new IRS agents on American families, farmers, and small businesses. Who in their right mind raises taxes as you are entering a recession? Now, even Republican sponsors of the CHIPS bill in the Senate are urging a ``no'' vote. Good people can disagree on the contents of the semiconductor issues here. My view is that the original bill misses the mark on national security and provides tax subsidies that aren't warranted. China is targeting 10 of our American technologies and industries, including robotics, biotech, artificial intelligence, and on and on. It is a mistake and missed opportunity to subsidize one and help one while ceding nine of our industries and technologies to China. I believe our approach should be to lift all of our industries up so they can compete and win against China.…”