In a surprise development last night, Senate Majority Leader Chuck Schumer (D, N.Y.) and Senator Joe Manchin (D, W.Va.), with support from President Biden, announced a deal on a massive tax, energy and healthcare legislative package. Sen. Kyrsten Sinema (D-Ariz.), as of the time of this writing, has not indicated her support, and she’s a…
Solar tax credits will make up for some of the damage done to the Section 201 solar safeguards. But Congress beware: the U.S. can’t out-subsidize China.
Yesterday, Senator Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV) announced that they reached a deal on a reconciliation package that would change current U.S. tax law to benefit domestic American companies. The Inflation Reduction Act will implement a 15 percent Corporate Alternative Minimum Tax (CAMT) on foreign and American multinational companies with…
CPA chief economist Jeff Ferry says the CHIPS Act is needed to counter China’s rise in the semiconductor space, and that the R&D component of the bill needs to include guardrails so American academia isn’t beta-testing and researching new chips in partnership with Chinese universities and companies.
WASHINGTON — The Coalition for a Prosperous America (CPA) today criticized the Senate for passing the $250 billion CHIPS Act after removing an anti-China security measure that would bar U.S. companies from manufacturing products in China, such as semiconductors, that were developed using federally funded research. Numerous U.S. government investigations, including the Section 301 investigation,…
Commerce Department official tells House Foreign Affairs of the urgent need for the CHIPS Act, and says department is looking into more export controls on China.
WASHINGTON — This morning, two economists from the Coalition for a Prosperous America (CPA) will testify in a U.S. International Trade Commission (USITC) hearing on how tariffs benefit American workers, domestic producers, and the U.S. economy. The USITC hearings will focus specifically on the Section 232 tariffs on specific industries, and the Section 301 tariffs…
U.S. market share in the solar industry has increased since solar tariffs were enacted.
This article is an expanded version of testimony delivered by Mr. Ferry to the U.S. International Trade Commission on July 22, 2022. The Section 232 steel tariffs have benefited the U.S. steel industry and its workforce American steelworkers earned an average of $117,200 last year, making steel one of the best-paying industrial sectors in…
U.S. solar industry getting little to no help from the Biden administration.
