GOP policies to lose tech space to China – Biden

President Joe Biden has warned that the Republican Party’s proposals to cut the budget could be detrimental to US manufacturing, helping China dominate the global economy. Speaking at a semiconductor maker in North Carolina, Biden attempted to sway public opinion as he faces off with House Speaker Kevin McCarthy over whether the federal government should raise its legal borrowing capacity.

McCarthy has called for talks on potential spending cuts in exchange for a debt limit increase, but Biden has said Republicans need to provide their own budget plan first. 

The president argued that GOP demands on the budget would only empower China, as it would mean ceding the future of innovation and technology to the country’s geopolitical rival. 

Biden highlighted his administration’s recent legislative successes, including the CHIPS Act, the $1.9 trillion COVID relief bill, the $1 trillion infrastructure legislation, and a roughly $375 billion climate bill.

His administration is now seeking to lean into the battle with Republicans over spending priorities and who has better ideas to steward the US economy. Biden is also attempting to present his administration as one focused on governing, while Trump faces a possible indictment.

Over the next three weeks, Vice President Kamala Harris, first lady Jill Biden, and other senior administration officials will travel to 20 states to highlight the impact of Biden’s economic agenda, including crucial battlegrounds that Biden won in 2020 and states expected to be competitive again in 2024.