Invests in Supply Chain, Workers, International Security
Washington, DC— Today, Congressman Jim Himes (CT-04) voted in the House of Representatives for the America COMPETES Act. The bill passed by a vote of 222-210. The COMPETES Act is designed to support our country’s workers and families by making investments in supply chain, domestic manufacturing, research and development, and strengthening America abroad.
“When we passed the Infrastructure Investment and Jobs Act, Congress made a commitment to fund, roads, rail, bridges, waterways, broadband, and the framework that keeps Connecticut, and the rest our country, running,” said Himes. “Today, The America COMPETES act is continuing the essential work that is at the top of Americans’ minds – building an economy that benefits everyone, now and in the future.”
The America COMPETES Act addresses several issues that are holding back the American economy by making investments in securing the supply chain and building American manufacturing capability, so families have access to goods when they need them. In addition, the bill invests significantly in research and development, expanding several initiatives related to cybersecurity and artificial intelligence as well as seeking advanced solutions to climate change and other pressing issues. Notably, the package includes measures to address China’s human rights abuses.
“These investments will help companies like ASML in Wilton, which employs more than 1,600 employees, by bolstering our advanced manufacturing supply chain,” continued Himes. “The research and development components of the bill will help keep the U.S. at the cutting edge of innovation and growth, while also protecting our position as the global leader in technology in areas like cyber, AI, and quantum. I’ve called for investments like this for years from my position on the Strategic Technologies and Advanced Research Subcommittee of the House Intelligence Committee and am glad to see parts included here.”
The COMPETES Act also includes a provision from Congressman Himes that would further empower the Financial Crimes Enforcement Network (FinCEN) of the Treasury Department to enact special measures against international individuals or entities engaged in money laundering.
“Drug smugglers, arms runners, sex traffickers, slavers, and other criminals will use any means necessary to avoid having their assets seized or frozen,” said Himes. “If there are mechanisms through which the bad guys can hide their money, they will use them. Right now, FinCEN is trying to fight with one hand tied behind its back. This provision will allow them to follow the money trail, wherever it leads, and shut it down, while maintaining the transparent public-comment period as it exists now.”
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