MarketWatch exclusive: In an interview Thursday, Rep. Ro Khanna — a Democrat from Silicon Valley — calls the holdup of the multibillion-dollar U.S. tech-innovation bill “malpractice” and a “dereliction of duty' by Congress.
Rep. Ro Khanna had high hopes for a multibillion-dollar U.S. innovation bill he helped write: It was bipartisan from the start and was passed by both branches of Congress.
Khanna laid out three options for moving forward with what he calls “the largest investment in science, technology and advanced manufacturing since the Kennedy years.” The third option is Khanna’s least favorite: Cleave off the $52 billion CHIPS Act and pass just that. The congressman said the bill is critical to help U.S. semiconductor manufacturing the delay in passing it has already prompted Intel Corp. INTC, +1.34% to delay its groundbreaking on a chip plant in Ohio.
“There is no more urgent task than to build our structural capability,” he said. He added that while countries such as China have concrete tech policies, “we have done almost nothing to build our industrial base for the next generation.”
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