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Rep. Jim Banks (R-IN), Chairman of the Republican Study Committee (RSC), says the Democrats’ China bill is a “massive boondoggle that’s going to help the Chinese” and hurt Americans, making the remarks during an appearance on Breitbart News Saturday.
Banks explained that Democrats are falsely pitching the China bill as a way to better compete with the Chinese Communist Party (CCP), but he said it is innately flawed as it has absolutely no safeguards to prevent the theft of our intellectual property or research.
The problem, Banks said, is the bill does “exactly the opposite of what the Senate Democrat Leader Chuck Schumer’s reporting that it does.”
“They say it would help the United States compete with China. We believe it actually helps China and there are a lot of reasons why,” the Indiana lawmaker explained, referring to it as a “boondoggle spending bill” which spends hundreds of billions funneling money to places that are already susceptible to being taken advantage of by the CCP, stealing our intellectual property.
“For example, it gives $29 billion to the Nation Science Foundation for research and development on new technologies but does nothing to safeguard those investments from being stolen by the CCP,” Banks said, explaining the bill gives hundreds of billions to similar areas, such as universities, which the CCP has a strategy to take advantage of, mentioning the creation of Confucius institutes used to steal American research. --->READ MORE HERE
The U.S. Innovation and Competition Act, or so-called “Endless Frontier Act,” has been lauded as a force against China’s technological dominance, but it’s turning into a giant pile of special-interest pork that increases taxpayer outlays for grotesque medical research that splices the bodies of animals with those of aborted human babies.
After weeks of Senate floor debate and more than 600 proposed amendments, the Senate will vote on the bill, first introduced by Sen. Chuck Schumer, D-N.Y., and Sen. Todd Young, R-In., this Tuesday. Growing concern from Senate Republicans over its ethical and practical effectiveness and its $250 billion spending surge has undercut support for the bill.
The bill’s purpose has been watered down by special interest groups undergoing a feeding frenzy on a rare bill that seems likely to pass a narrowly divided Congress.
“Everyone knows this thing is going to pass, so every lobbyist wants to add everything they can,” Rep. Ro Khanna told Politico.
Congress has approved 215 amendments to the bill. Young even agreed the legislation was a magnet for special interests, but Senate Republicans seem poised to pass it anyway. --->READ MORE HEREFollow link below to a related story:
Republicans Grow Wary Of China Bill As Democrats Sap It With Special Interests And Lofty Price Tag
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