- Both parties largely agree on the urgency of ensuring the U.S. outcompetes China on the world stage — including by revitalizing U.S. manufacturing and research, and cracking down on Beijing's economic abuses.
- The bipartisan legislation has been hailed as a symbol of congressional cooperation.
Driving the news: The counterproposal is being drafted by the Republican Study Committee (RSC), which includes 154 House Republicans.
- The group calls its measure "the most serious and comprehensive effort this Congress to take on the threat of China," according to a copy of the draft outline obtained by Axios.
- The RSC proposal, which remains untitled, would cost $1 billion — far less than the $200 billion-plus price tag for the Senate's bill.
Details: The measure builds off of a series of proposals put forth by conservatives in both parties and is broken into 11 sections:
- Countering China’s Malign Influence
- China’s Role in COVID-19
- Medical Supply Chains
- Investment, Research and Development
- Education
- Democracy, Human Rights and Taiwan
- Defense
- Protection of Intellectual Property
- Financial Services
- Rescinding State and Local Bailout Funds
- National Security Authorizations
State of play: The group will blast out the eight-page outline Friday and begin soliciting feedback, with the goal of introducing a final version in the coming weeks, said an aide to Rep. Jim Banks (R-Ind.), chairman of the RSC.
Be smart: The drafting of a counterproposal by the RSC underscores the group's belief that other legislative efforts are too expensive and don't do enough to counter China.
