House conservatives have drafted a 300-page counterproposal to the Senate’s sprawling bipartisan China bill.
Last month, Senate Majority Leader Chuck Schumer won the support of 18 Republicans for his own bill targeting China. Although the GOP doesn’t have the upper hand in the House, the new bill could peel away support from Schumer and attract support for the Republicans opposing his bill.
Both parties agree that outperforming China is a major priority for the U.S., but the snag we continue to hit is the same one as always: money. Schumer’s bill would cost a whopping $200 billion, with the House conservative bill coming in at only $1 billion.