Why the US Innovation & Competitive Act (Or some form of it) is Necessary to Spark Change?

The United States Innovation and Competition Act of 2021 is an attempt to push the U.S. to compete in areas that are likely to be part of the next major economic revolution (See Digital Era). It will address issues such as 5G, AI, quantum computing, semiconductors, bio-engineering and so much more. You can gain some analysis and understanding in a few articles I picked for you. Senate Passes China Competition Bill ,China Competition Bill, McConnell Warning, What's in Competes Bill

This is what I have to say about it. I think ponder what our next place is from an economic competitive standpoint is very important. We have dragged our feet and wasted so much time arguing about useless things in our party politics (I like Biden because he is doing his best to make an impact and I like McConnell because he might be rough around the edges but he seems to care about our long term national health. You can sort of watch how they navigate some of the dicey issues.). Now we have to put these minds together. :)

We can also debate and discuss the particulars but not the overall need to compete on these tech fronts. The rest is sort of negotiable. My opinion is that I like things to be organic and setting policies that change the environment are helpful so that companies can do what is natural to them. That would include FDI (That is my fiscal conservative Republican side). At the same time there are times when a spark can start the ball rolling and create longer term tax advantages that return wealth through government stakeholder theory concepts (That is my Democrat side with a net positive result emphasis.).

We know we must do something and how we do that is debatable and something our legislative bodies need to figure out. I don't believe we can do nothing (Don't listen to me I have a Muslim sounding name and I'm not in the 'connected' class. 🤷 Ok....sorry I'm killing it but I will eventually have a point to make. Its a meaningful one but is just not the right time. 😏 )

• provides funding for FY2022-FY2026 to support U.S. semiconductor manufacturing, research and development, and supply chain security;
• provides funding for wireless supply chain innovation;
• establishes a Directorate for Technology and Innovation in the National Science Foundation;
• extends through 2025 the authority of the National Aeronautics and Space Administration (NASA) to lease its non-excess real property and related personal property;
• authorizes various programs and policies related to space exploration;
• authorizes various international affairs programs and activities, including foreign assistance for the Indo-Pacific region;
• requires federal infrastructure programs to provide for the use of materials produced in the United States;
• imposes sanctions on China for cybersecurity and human rights abuses;
• requires the Department of Health and Human Services to consider national security risks associated with sensitive genetic information;
• includes initiatives related to elementary and secondary education, including those to increase computer science education;
• contains provisions related to higher education, including those reauthorizing through FY2027 international education programs and addressing China's influence on institutions of higher education;
• modifies and expands the schedule for graduated merger filing fees;
• prohibits federal funding for the Wuhan Institute of Virology;
• requires the U.S. Trade Representative to take certain actions related to digital trade and censorship practices; and
• extends through 2027 the Generalized System of Preferences.