: Ro Khanna: Tech-funding bill is ‘not just about jobs — It’s about a new patriotism’

by | Jul 14, 2022 | Stock Market

Rep. Ro Khanna, a congressman from Silicon Valley, wrote the Endless Frontier Act as part of a wide-ranging tech innovation bill that seemed to be on a fast track before reaching a stalemate in Congress. Before the recent political developments that have endangered the U.S. Innovation and Competition Act — Senate Minority Leader Mitch McConnell is threatening to block it because he is against the Democrats’ budget reconciliation bill — MarketWatch talked with Khanna, D-Calif., about the bill, including about how it is meant to help create well-paying jobs and expand the definition of what a tech job is.

In a follow-up, Khanna said Thursday he still hoped that Congress would pass the multibillion-dollar USICA, though it is possible that Congress will pass the narrower, $52 billion CHIPS Act instead. Don’t miss the update: Three possible outcomes for stalled tech-funding bill, according to its co-author The bulk of the USICA’s goals is aligned with the ideas the congressman lays out in his book, “Dignity in a Digital Age.” In the book, he wrote about what technology, automation and the “digital economy” have wrought, including rising inequality and the concentration of high-paying jobs in just a few places in the nation. Khanna wrote: “There is no reason why any region that’s fallen behind should be left behind.” This interview was conducted in spring, and has been edited for length and clarity. MarketWatch: What is the significance of this legislation being a bipartisan effort? Khanna: It’s been bipartisan since the beginning when Chuck Schumer, Todd Young, Mike Gallagher and myself crafted the bill. Its purpose was to make sure advanced manufacturing and production is being done in America, not offshored. This is not just about jobs. It’s about a new patriotism, a spirit of revival, of becoming productive and glorious. …

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