The Senate’s Industrial Policy Bill Is a Debt-Financed Corporate Giveaway That Lobbyists Love

Source: Reason
by Eric Boehm

“The United States Innovation and Competition Act of 2021 is being widely framed as a bipartisan effort to stand up to China. … But if you want to know what this legislation is really about, you have to skip down several paragraphs to where the Times notes that the bill’s ‘popularity made it a magnet for industry lobbyists and lawmakers’ pet priorities.’ Having Congress set industrial policy is good news for businesses with power and influence over federal policymaking, and this proposal is no exception.” (06/08/21)