Senate Democrats Propose New Legislation to Counter Growing Threat From China

Senate Majority Leader Chuck Schumer (D-N.Y.) speaks briefly to reporters after a meeting with President Joe Biden at the U.S. Capitol in Washington on March 2, 2023. Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) on May 3 unveiled a new Democrat proposal aimed at staving off competition from China, boosting U.S. economic investment, and deterring Beijing from escalating conflict with Taiwan.

A blueprint of the proposal dubbed the “China Competition Bill 2.0,” builds off legislation signed into law last summer authorizing more than $170 billion over five years to bolster domestic scientific research and $52 billion in new subsidies for manufacturers of semiconductors; an essential component in everything from electronic devices such as mobile phones to electric vehicles.