Show an ad over header. AMP

I am the FIRST

Schumer’s China bill a litmus test for if Dems can work with GOP on anything

Senate Majority Leader Chuck Schumer (D-N.Y.) is forcing Republicans into a corner as he tries to pass his China-focused global competition bill.

Why it matters: It's important by itself but also seen by the left as a test for whether Democrats can work with the GOP on anything. If it fails to gain support, it would likely endanger future bipartisan efforts — including infrastructure talks — for the remainder of the 117th Congress.


Details: Schumer strategically mapped out a plan for the bill that would box in the rival party.

  • The foundation of the U.S. Innovation and Competition Act is a bipartisan proposal from Schumer and Republican Sen. Todd Young of Indiana.
  • The legislation is expected to focus on manufacturing, technology, 5G, supply chains and semiconductors — all concerns for both parties.
  • In February, Schumer asked both Democratic committee chairs and their ranking Republicans to work on measures that could be included in a larger package.
  • Now, Republicans are saying they need to see a rigorous amendment process in order to support the measure. So far Schumer has obliged, though it's still unclear whether he'll give all of their amendments a vote.
  • On Tuesday, he introduced six Republican amendments and scheduled votes on three otherson Wednesday.
  • In his messaging, Schumer has consistently emphasized he's put up more Republican amendments than Democratic ones.

Yes, but: Many Republicans still argue Schumer isn't working in good faith, and that the process hasn't been totally bipartisan.

  • Sen. Mike Crapo (R-Idaho) is going so far as to try to convince Republicans to reject the bill outright, complaining his negotiated bipartisan provision was blocked by Schumer.

The bottom line: Some Democratic lawmakers and their aides say that if this bill doesn't pass, the entire mood in the Senate will shift away from any semblance of accommodation.

  • Alternatively, if it succeeds, it could provide momentum for future negotiations.

What they're saying: Sen. Chris Murphy (D-Conn.), a member of the Senate Foreign Relations Committee, told Axios he's confident the bill will pass.

  • "My feeling is that it's too big to fail. So much work has been put in that it would be inconceivable to me that Republicans would walk away just because the last-minute process didn't play out the way they want it."
  • Sen. Joni Ernst (R-Iowa) said she's less certain the bill will succeed unless certain changes are made.
  • "Bottom line is, it's an awful lot of money. There has to be some transparency involved with this, and we have to have clearly defined goals and objectives."

Remember: Aiming to outcompete China is an area in which Republicans and Democrats largely agree.

  • It's the one issue on which Schumer and President Trump saw eye to eye — making it the perfect one for Democrats to force Republicans' hand.

Why the startup world needs to ditch "unicorns" for "dragons"

When Aileen Lee originally coined the term "unicorn" in late 2013, she was describing the 39 "U.S.-based software companies started since 2003 and valued at over $1 billion by public or private market investors."

Flashback: It got redefined in early 2015 by yours truly and Erin Griffith, in a cover story for Fortune, as any privately-held startup valued at $1 billion or more. At the time, we counted 80 of them.

Keep reading... Show less

Scoop: Facebook's new moves to lower News Feed's political volume

Facebook plans to announce that it will de-emphasize political posts and current events content in the News Feed based on negative user feedback, Axios has learned. It also plans to expand tests to limit the amount of political content that people see in their News Feeds to more countries outside of the U.S.

Why it matters: The changes could reduce traffic to some news publishers, particularly companies that post a lot of political content.

Keep reading... Show less

Scoop: Amazon quietly getting into live audio business

Amazon is investing heavily in a new live audio feature that's similar to other live audio offerings like Clubhouse, Twitter Spaces and Spotify's new live audio platform, sources tell Axios.

Why it matters: As with Amazon's efforts in podcasting and music subscriptions, the company sees live audio as a way to bolster the types of content it can offer through its voice assistant, Alexa, and its smart speaker products.

Keep reading... Show less

Hurricane Ida exposes America's precarious energy infrastructure

The powerful hurricane that plunged New Orleans into darkness for what could be weeks is the latest sign that U.S. power systems are not ready for a warmer, more volatile world.

The big picture: “Our current infrastructure is not adequate when it comes to these kinds of weather extremes,” Joshua Rhodes, a University of Texas energy expert, tells Axios.

Keep reading... Show less

"We must go further": 70% of adults in European Union are fully vaccinated

About 70% of adults in the European Union are fully vaccinated against COVID-19, Ursula von der Leyen, the president of the European Commission, said Tuesday.

Why it matters: The milestone makes the E.U. one of the world's leaders in inoculations, after an initially lagging vaccine campaign, the New York Times notes.

Keep reading... Show less

What Elizabeth Holmes jurors will be asked ahead of fraud trial

Jury selection begins today in USA v. Elizabeth Holmes, with the actual jury trial to get underway on Sept. 8.

Why it matters: Theranos was the biggest fraud in Silicon Valley history, putting both hundreds of millions of dollars and thousands of patients' health at risk.

Keep reading... Show less

Insights

mail-copy

Get Goodhumans in your inbox

Most Read

More Stories