meta_pixel
Tapesearch Logo
Axios Re:Cap

Rep. Ro Khanna on the massive bill to compete with China

Axios Re:Cap

Axios

Daily News, News

4.5705 Ratings

🗓️ 8 June 2021

⏱️ 11 minutes

🧾️ Download transcript

Summary

Senate Democrats and Republicans today are expected to overwhelmingly pass a $247 billion spending package focused on competing with China on technology.  Dan is joined by California Democrat Rep. Ro Khanna, who cosponsored this bill and who has been concerned about this issue and the ramifications for the U.S. of falling behind since he first campaigned for office.

Transcript

Click on a timestamp to play from that location

0:00.0

Hi, I'm Dan Pramak, and welcome to Axios Recap, where we dig into one big story.

0:08.4

Today is Tuesday, June 8th. Mass shootings are up. Lots of websites went down this morning,

0:13.8

and we're focused on America's plan to catch up to China.

0:20.3

Senate Democrats and Republicans today are expected to overwhelmingly pass

0:24.4

a $247 billion spending package that has nothing to do with bridges or roads or social services

0:30.9

or COVID recovery. This bill, called the Endless Frontier Act, is about competing with China

0:36.3

on technology, which many in Silicon

0:38.4

Valley have long worried as a national security threat we haven't taken seriously enough.

0:43.5

Most of the money will go to scientific research and development, and that R&D, at least in

0:48.4

theory, will ultimately lead to the creation of new businesses in areas like artificial

0:52.7

intelligence and quantum computing,

0:54.8

areas into which China has been pouring boatloads of money for years, often blurring the

0:58.9

lines between military and commercial applications. The rest of the money will go to help

1:03.6

U.S. semiconductor companies increase domestic manufacturing, so that the key building blocks

1:08.8

of everything from our phones to our missile navigation systems

1:11.8

aren't being built elsewhere.

1:13.9

But despite this bipartisan support, including from Bill co-sponsors, Chuck Schumer and Lindsey Graham,

1:18.8

there are some concerns that this legislation was cobbled together out of lots of other bills

1:23.5

and therefore might not have that same sort of cohesive focus that China has displayed.

1:27.9

And then there's also some worry that without more explicit industrial policy, as in giving

1:32.7

specific money to specific companies, not even $252 billion is enough to erase China's tech lead.

1:39.4

So today we want to speak with Congressman Roe Kana of California, who sponsored the House version

...

Transcript will be available on the free plan in -1391 days. Upgrade to see the full transcript now.

Disclaimer: The podcast and artwork embedded on this page are from Axios, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Axios and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.