Democratic vice presidential nominee Tim Walz has criticized House Speaker Mike Johnson for his recent comments regarding the CHIPS and Science Act. The Republican lawmaker had suggested the possibility of repealing the law, which was enacted under President Joe Biden to boost investment in domestic semiconductor manufacturing.
Walz expressed concerns that repealing the CHIPS and Science Act could have negative consequences, including jeopardizing hundreds of jobs in Georgia and potentially putting the US at a disadvantage compared to China in terms of economic competitiveness.
During a speech, Walz highlighted Speaker Johnson's remarks, where he implied that if Trump were to win the election, there might be a move to repeal the law. Walz emphasized the impact of such a decision, stating that it could lead to the defunding of 115,000 jobs in manufacturing and construction, with 1,200 of those jobs located in Georgia.
Following the backlash, Speaker Johnson clarified his stance, stating that the CHIPS and Science Act is not currently slated for repeal. However, Walz continued to criticize the initial comments made by Johnson, linking them to Trump's broader economic policies.
Walz specifically called out Trump's proposal to increase tariffs on imports, questioning the effectiveness of such a strategy. He also took a dig at Trump's age, highlighting the president's nearly 80 years and suggesting that by this point in his life, one would expect him to have a better understanding of how tariffs function.
The exchange between Walz and Johnson underscores the ongoing debate surrounding economic policies and their potential impact on various industries and job markets. As the election approaches, discussions around key legislation like the CHIPS and Science Act are likely to remain in the spotlight.
