{"id":1049653,"date":"2024-11-01T18:08:50","date_gmt":"2024-11-01T22:08:50","guid":{"rendered":"https:\/\/democrats.org\/?p=1049653"},"modified":"2024-11-01T18:08:51","modified_gmt":"2024-11-01T22:08:51","slug":"%f0%9f%9a%a8-breaking-maga-mike-johnson-confirms-gop-under-trump-vance-would-repeal-chips-act","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/%f0%9f%9a%a8-breaking-maga-mike-johnson-confirms-gop-under-trump-vance-would-repeal-chips-act\/","title":{"rendered":"\ud83d\udea8 BREAKING: MAGA Mike Johnson Confirms GOP Under Trump-Vance Would Repeal CHIPS Act"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"341\" width=\"1024\" src=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?w=1024\" alt=\"\" class=\"wp-image-1038290\" srcset=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png 1500w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?resize=300,100 300w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?resize=768,256 768w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?resize=1024,341 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>In response to MAGA Speaker Mike Johnson <\/em><a href=\"https:\/\/cnycentral.com\/news\/local\/speaker-mike-williams-in-syracuse-repealing-the-chips-act-a-possibility\"><em>saying<\/em><\/a><em> the GOP would repeal the Biden-Harris administration\u2019s historic CHIPS and Science Act,<\/em> <strong><em>DNC Rapid Response Director Alex Floyd released the following statement:&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p>\u201cJust days after MAGA Mike Johnson confirmed Republicans are planning to launch a \u2018massive\u2019 new attack on the Affordable Care Act, he\u2019s now admitting that a Republican-controlled Congress under Donald Trump and JD Vance would repeal billions in funding delivered by the Biden-Harris administration that is fueling jobs and innovation across the country. Trump and MAGA Republicans\u2019 closing argument attacking their fellow Americans while running on a dangerous, unpopular agenda makes clear our country can\u2019t risk a second Trump term.\u201d<\/p>\n\n\n\n<p><strong>\ud83d\udea8BREAKING: MAGA Speaker Mike Johnson confirmed that if Republicans gain control of Congress and Trump wins, they \u201cprobably will\u201d try to repeal the bipartisan CHIPS and Science Act.<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/x.com\/lukeradel\/status\/1852457020877582462\">Luke Radel, CitrusTV News<\/a>: <strong>\u201cThe former President has said he doesn\u2019t support the CHIPS and Science Act. You voted against it. If you have a Republican majority in Congress and Trump in the White House, will you guys try to repeal that law?\u201d<\/strong><\/p>\n\n\n\n<p>Mike Johnson: <strong>\u201cI expect that we probably will [&#8230;]\u201d<\/strong><\/p>\n\n\n\n<p><strong>Just last week, Donald Trump railed against the CHIPS Act, calling it \u201cso bad\u201d \u2026<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.nytimes.com\/2024\/10\/26\/us\/politics\/trump-joe-rogan-chips-science-act.html\">New York Times<\/a>: <strong>\u201cFormer President Donald J. Trump on Friday blasted the CHIPS and Science Act, a bipartisan law aimed at reducing America\u2019s reliance on Asia for semiconductors by providing billions in subsidies to encourage companies to manufacture more chips in the United States.<\/strong><\/p>\n\n\n\n<p><strong>\u201c\u2018That chip deal is so bad,\u2019 Mr. Trump said<\/strong> during a nearly three-hour episode of \u2018The Joe Rogan Experience.\u2019\u201d<\/p>\n\n\n\n<p><strong>\u2026 despite the fact that this <\/strong><a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/08\/09\/fact-sheet-two-years-after-the-chips-and-science-act-biden-%e2%81%a0harris-administration-celebrates-historic-achievements-in-bringing-semiconductor-supply-chains-home-creating-jobs-supporting-inn\/\"><strong>legislation<\/strong><\/a><strong><em> <\/em><\/strong><strong>is investing in America and strengthening our economy.<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Invested about <strong>$53 billion <\/strong>to encourage American leadership in the semiconductor manufacturing industries. Dozens of companies have committed to about <strong>$400 billion<\/strong> in total semiconductor investments across the country.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Two years ago, the U.S. produced none of the world\u2019s most advanced chips. Now, it\u2019s<strong> home to all five of the world\u2019s leading-edge logic, memory, and advanced packaging providers in just two years<\/strong> \u2014 putting us on track to produce nearly 30% of the global supply by 2032.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>CHIPS-funded projects are creating more than <strong>115,000 good-paying construction and manufacturing jobs<\/strong> while building up workforce pipelines for related industries across the country.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Unleashed funding to <strong>help small businesses explore innovative ideas and the commercial microelectronics<\/strong> <strong>marketplace<\/strong>.\u00a0<\/li>\n<\/ul>\n\n\n\n<p><strong>FACT: Trump\u2019s utter failure of an economic record put working people last by rigging the economy for billionaires, skyrocketing the deficit, and creating new incentives for companies to ship jobs overseas.<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.washingtonpost.com\/business\/2019\/10\/08\/first-time-history-us-billionaires-paid-lower-tax-rate-than-working-class-last-year\/\">Washington Post<\/a>:<strong> \u201cFor the first time in history, U.S. billionaires paid a lower tax rate than the working class last year\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.forbes.com\/sites\/camilomaldonado\/2019\/10\/10\/trump-tax-cuts-helped-billionaires-pay-less-taxes-than-the-working-class-in-2018\/?sh=642388dd3128\">Forbes<\/a>: <strong>\u201cTrump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.theguardian.com\/business\/2019\/oct\/09\/trump-tax-cuts-helped-billionaires-pay-less\">The Guardian<\/a>: <strong>\u201cDonald Trump\u2019s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.nytimes.com\/2019\/12\/30\/business\/trump-tax-cuts-beat-gilti.html\">New York Times<\/a>: \u201cHow Big Companies Won New Tax Breaks From the Trump Administration\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.epi.org\/press\/the-tcja-overwhelmingly-benefited-the-rich-and-corporations-while-overlooking-working-families\/\">Economic Policy Institute<\/a>: <strong>\u201cThe TCJA overwhelmingly benefited the rich and corporations while overlooking working families\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.vox.com\/policy-and-politics\/2018\/4\/24\/17275720\/pass-throughs-tax-cut-bill\">Vox<\/a>: <strong>\u201cTrump said this tax break was for small businesses. It\u2019s giving $17 billion to millionaires this year\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.nytimes.com\/2024\/03\/06\/us\/politics\/trump-super-tuesday-fact-check.html\">New York Times<\/a>: <strong>\u201cThe 2017 corporate tax cuts signed into law by Mr. Trump have not increased government revenue \u2026 In fact, they have had the opposite effect.\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.washingtonpost.com\/business\/2021\/01\/14\/trump-legacy-national-debt-increasee\/\">Washington Post Analysis<\/a>: \u201cOne of President Donald Trump\u2019s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he\u2019s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump\u2019s time in office\u2026 The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration.\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cbsnews.com\/news\/two-years-after-trumps-tax-reform-the-middle-class-is-struggling\/\">CBS News<\/a>: <strong>\u201cTwo years after Trump tax cuts, middle-class Americans are falling behind\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2020-10-22\/supply-chains-latest-the-hard-data-on-trump-s-offshoring-record\">Bloomberg<\/a>: <strong>\u201cThe Offshoring of U.S. Jobs Increased on Trump\u2019s Watch\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.washingtonpost.com\/business\/economy\/trump-promised-america-first-would-keep-jobs-here-but-the-tax-plan-might-not\/2017\/12\/15\/7b8ed60e-df93-11e7-bbd0-9dfb2e37492a_story.html\">Washington Post<\/a>: <strong>\u201cTrump promised \u2018America First\u2019 would keep jobs here. But the tax plan might push them overseas.\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.theguardian.com\/us-news\/2019\/jul\/10\/trump-workers-jobs-overseas-factories\">The Guardian<\/a>: <strong>\u201c\u2018He pulled the wool over our eyes\u2019: workers blame Trump for moving jobs overseas\u201d<\/strong><\/p>\n\n\n\n<p>\u201cPromises to save US manufacturing and prevent American jobs moving abroad were a key part of Donald Trump\u2019s 2016 campaign. But since Trump took office in January 2017, nearly 200,000 jobs have been moved overseas, based on Trade Adjustment Assistance certified petitions.\u201d<\/p>\n\n\n\n<p><strong>FACT: If they have their way, Trump and JD Vance would once again gift tax breaks to the ultra-rich and big corporations while causing an \u201cinflation bomb.\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.wsj.com\/politics\/elections\/economists-say-inflation-deficits-will-be-higher-under-trump-than-harris-0365588e?mod=hp_lead_pos2\">Wall Street Journal<\/a>:<strong> \u201cEconomists Say Inflation, Deficits Will Be Higher Under Trump Than Harris\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.axios.com\/2024\/06\/25\/nobel-prize-winners-biden-economy-trump-inflation\">Axios<\/a>:<strong> \u201c16 Nobel economists see a Trump inflation bomb\u201d<\/strong><\/p>\n\n\n\n<p>\u201cSixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: <strong>Former President Trump\u2019s plans would reignite inflation and cause lasting harm to the global economy if he wins in November.\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.axios.com\/2024\/05\/08\/trump-biden-2024-economy-inflation\">Axios<\/a>: <strong>\u201cTrump\u2019s inflation bomb: <\/strong>How his second-term plans could make it worse\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/thehill.com\/business\/4731716-moodys-analytics-republican-sweep-inflation\/\">The Hill<\/a>: <strong>\u201cTrump win, GOP sweep would fuel inflation<\/strong>: Moody\u2019s Analytics\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2024\/08\/27\/trump-harris-budget-deficit-economy-election.html\">CNBC<\/a>: <strong>\u201cTrump budget would spike deficits<\/strong> by nearly 5 times Harris proposal, says Penn Wharton\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.theatlantic.com\/politics\/archive\/2024\/06\/trump-plan-supercharge-inflation\/678566\/\">The Atlantic<\/a>: \u201cTrump\u2019s Plan to Supercharge Inflation\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.wsj.com\/economy\/trade\/donald-trump-tariff-trade-policy-election-2024-80907f85\">Wall Street Journal<\/a>: <strong>\u201cA drumbeat of reports from Wall Street economists have warned that Trump\u2019s plans could substantially slow economic growth while driving up consumer prices.\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/09\/11\/trump-tax-cuts-2024\/\">Washington Post<\/a>: \u201cTrump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law \u2026 <strong>Further cutting corporate taxes \u2026 would primarily benefit large firms.\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.americanprogress.org\/article\/project-2025s-tax-plan-would-raise-taxes-on-the-middle-class-and-cut-taxes-for-the-wealthy\/\">Center for American Progress<\/a>: <strong>\u201cProject 2025\u2019s Tax Plan Would Raise Taxes on the Middle Class and Cut Taxes for the Wealthy\u201d<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.cbsnews.com\/news\/project-2025-tax-trump-economy-heritage-foundation-how-it-works\/\">CBS News<\/a>: <strong>\u201cMillions of low- and middle-class households would likely face significantly higher taxes under the Project 2025\u2019s proposals.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In response to MAGA Speaker Mike Johnson saying the GOP would repeal the Biden-Harris administration\u2019s historic CHIPS and Science Act, DNC Rapid Response Director Alex Floyd released the following statement:&nbsp; \u201cJust days after MAGA Mike Johnson confirmed Republicans are planning to launch a \u2018massive\u2019 new attack on the Affordable Care Act, he\u2019s now admitting that [&hellip;]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1049653","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - 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