The Democrat-led House of Representatives has yet to vote on bipartisan legislation the Senate passed over seven months ago that would provide billions of dollars in aid to chip manufacturers at a time when vehicle prices continue to rise for consumers as a result of the chip shortage.
Democratic Virginia Sen. Warner, a cosponsor of the bill, said the Biden Administration and House Democrats have been focused on other issues since the bill's passage on June 8, 2021 and failed to move it forward.
Urging the House to pass the chips bill, Warner said, "How this relates to inflation is I think anybody who has gone out and tried to buy a used car has seen probably some of the biggest inflation across the market take place in the used car market." Warner attributed the rise in used vehicle prices to the new car market not being able to produce enough cars to meet current demand due to the chip shortage.
"Not because our factories aren't prepared to produce those cars, they are - matter of fact, there are cars sitting in lots across the Midwest," said Warner in a press briefing with reporters.
"So the actions that the Congress can take is working with retailers, other providers about how we can smooth out the supply chain." Warner attributes inaction on his bill in part to Biden administration distraction.
"Let's go ahead and get that money into 5G and into the semiconductors now," Warner said, arguing that in the seven months since the Senate passed its version of the bill "We have lost in America the chance to secure some of these additional chip manufacturing facilities ... because other nations have stepped up" to fill the void.
In June 2021, Just the News asked Warner and Cornyn for their response to the argument that billions in taxpayer funding for chip manufacturers amounts to corporate welfare.
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Monday, January 24, 2022
House has delayed passage of Senate chip funding bill for 7 months as vehicle prices keep rising
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