The Senate today passed the CHIPS+ Act, a bill that would hand over tens of billions of tax dollars to domestic production of semiconductors. CEI Senior Fellow Ryan Young denounced the bill as unneeded corporate welfare: “The best policy for giving taxpayer money to private businesses is: Don’t. Unfortunately, the Senate seems to think the best way … Continue reading Senate-Passed Corporate Welfare “CHIPS” Bill Won’t Help U.S. Companies Out-Compete China
Category: Trade
U.S. Senator Ben Sasse (R-NE) and U.S. Senator Chris Van Hollen (D-MD) introduced a resolution to encourage the President to begin negotiating a tax agreement with Taiwan.“Our economic partnership with Taiwan is one we should always look to strengthen,” said Senator Sasse. “Taiwan is a democratic success story, an economic success story, and our eighth largest trading … Continue reading Sasse and Van Hollen Call for US Tax Agreement with Taiwan
The United States Senate unanimously passed Sen. Mike Lee’s (R-UT) FORMULA Act. The bill, which removes import tariffs on baby formula and baby formula input products until the end of this year now heads to the President’s desk. The House of Representatives had previously modified and passed the bill resulting in Senate reconsideration. The national baby … Continue reading Lee’s FORMULA Act to repeal federal trade tax on baby formula heads to President’s desk
“The sharp increase in softwood lumber prices, on top of high inflation and supply chain challenges, has only further added to residential construction costs.” U.S. Sens. John Thune (R-S.D.) and Bob Menendez (D-N.J.) this week urged U.S. Department of Commerce Secretary Gina Raimondo and U.S. Trade Representative (USTR) Katherine Tai to prioritize lumber tariff relief … Continue reading Thune, Menendez Urge Administration to Prioritize Lumber Trade to Improve Housing Costs
Sen. Chuck Grassley (R-Iowa), a lifelong farmer and member of the Senate Agriculture Committee, joined Sen. Roger Marshall (R-Kan.) and nearly two dozen of his colleagues in urging President Biden and his administration to reverse policies that will drive fertilizer prices even higher. Many agricultural inputs have been impacted by 40-year high inflation, including fertilizer. … Continue reading Senators Demand Biden Relax Trade Taxes On Fertilizer
New data released by Americans for Free Trade, a broad coalition united in the fight against tariffs, reveals the steep price United States businesses, consumers, workers, and manufacturers have paid as part of the ongoing trade war with China. Americans have paid an estimated $129 billion in Section 301 tariffs between July 2018 and April 2022, … Continue reading As inflation rages, Americans paid an extra $129 billion to DC in trade war tax on consumer goods
U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, and U.S. House Ways and Means Republican Leader Kevin Brady (R-Texas) issued a statement condemning the Biden Administration’s decision to capitulate to the demands of some of the United States’ most disruptive trading partners at this week’s World Trade Organization (WTO) Ministerial … Continue reading Biden uses WTO global conference to surrender US sovereignty and interests
Senators Mike Braun, Richard Burr, James Risch, Mike Crapo, Roger Wicker, John Boozman, John Thune, Steve Daines, Cynthia Lummis, Todd Young, Marsha Blackburn, John Hoeven, Kevin Cramer, Jerry Moran, Roger Marshall, and Mitt Romney, sent a follow-up letter to the President of the United States calling on President Biden to engage with stakeholders and Congress … Continue reading Biden pressed to stop dragging feet on union-led West Coast port disruptions
U.S. Senator Pat Toomey (R-Pa.) released the following statement after the White House announced the launch of the U.S.-Taiwan Initiative on 21st-Century Trade with Taiwan. “Building closer ties between the United States and Taiwan is a strategic win for both, and this initiative is a good first step towards enhancing our trade relationship with one … Continue reading Toomey Calls for Comprehensive Free Trade Agreement With Taiwan
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