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Tags: nunes | chips | biden | manchin | schumer

Devin Nunes to Newsmax: Dems' Legislative Push 'Big Failure' for Senate GOP

Devin Nunes to Newsmax: Dems' Legislative Push 'Big Failure' for Senate GOP
(Newsmax/''The Chris Salcedo Show'')

By    |   Friday, 29 July 2022 07:40 PM EDT

Truth Social CEO Devin Nunes, a Republican former congressman who represented California, told Newsmax on Friday that the recent legislative push by Democrats, passing the ''CHIPS'' bill and moving forward with a scaled-down ''Build Back Better'' initiative demonstrates a ''big failure'' in Senate Republican strategy.

''We do have an existential threat with China and Taiwan of not having enough [semiconductor] chips, so there's a legitimate problem there with this legislation. I think that's why you probably saw some Republicans vote for it. You can argue about the merits of it,'' Nunes said on ''The Chris Salcedo Show.'' 

''But in terms of the strategy here, this was a big failure for Senate Republicans. I think that's the only way you can look at it.''

Republican leaders told House members to vote against the more than $70 billion legislation that would subsidize the U.S. semiconductor industry with grants and tax credits, Reuters reported.

After passing the Senate 64-33 in a bipartisan vote Wednesday, Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va., announced the agreement on a $740 billion piece of legislation containing many of the items in President Joe Biden's defeated Build Back Better Act, which Manchin effectively killed at the end of last year.

In response, Senate Minority Leader Mitch McConnell, R-Ky., called on House Republicans to shun the CHIPS bill in Thursday's vote.

''Let me be perfectly clear: There will be no bipartisan USICA as long as Democrats are pursuing a partisan reconciliation bill,'' McConnell posted on social media in June.

The CHIPS Act passed the chamber in a bipartisan 243-187 vote Thursday, including 24 Republicans, and now goes to Biden for a signature, according to Reuters.

While smaller than Biden's $3 trillion plan, the new $740 billion bill going through Congress would put about $385 billion into fighting climate change, raising corporate taxes by about $470 billion, and dealing with prescription drug prices and expanding the Affordable Care Act, according to The Washington Post.

''This would certainly be the biggest corporate tax increase in decades,'' Steve Wamhoff, a tax expert at Institute on Taxation and Economic Policy, a left-leaning think tank, told the publication. ''We've had decades of tax policy benefiting the rich, but this is really the first attempt to raise revenue in a progressive way that would begin to combat wealth and income inequality.''

Nunes said Democrats are going to use the new legislation to appeal to the progressives in the party and show they are doing something to fight climate change.

''They're doing this for the progressive left. They want to show some fig leaf out there that they're battling the most important issue, at the highest level, this existential threat that we have with global warming,'' Nunes said. ''That's their religion. It's sick. It's driving us to be poor in this country. And if you look at raising the taxes right now, with everything, it's going to blow up in their face.''

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Truth Social CEO Devin Nunes, a Republican former congressman who represented California, told Newsmax on Friday that the recent legislative push by Democrats, passing the ''CHIPS'' bill and moving forward with a scaled-down ''Build Back Better'' initiative demonstrates ...
nunes, chips, biden, manchin, schumer
538
2022-40-29
Friday, 29 July 2022 07:40 PM
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