Keith Krach Joins Commerce Secretary Raimondo, Urging Congress to Pass Bipartisan Innovation Act
Keith Krach, chairman and cofounder of the Center for Tech Diplomacy at Purdue, joins Commerce Secretary Gina Raimondo and a bipartisan panel of congressional representatives and national security experts, to urge Congress to move toward final passage of the Bipartisan Innovation Act. The legislation would invest $52 billion in domestic semiconductor production, spur innovation and advanced manufacturing in every corner of America, as well as create America’s first Supply Chain Resilience Office.
Panel participants included: Commerce Secretary, Gina Raimondo; Center for Tech Diplomacy Chairman, Keith Krach; Director, Bonnie Glick; Senator Todd Young (R-IN); Rep. Doris Matsui (D-CA); former National Security Advisor H.R. McMaster; former Deputy National Security Advisor Matt Pottinger; and former Google CEO Eric Schmidt.
Selected comments from Krach:
There’s a real and urgent threat to democracy, and the battlefield is actually technology, and semiconductors underlie that. And in this business, speed is everything. And as Eric [Schmidt] pointed out, just a generation or two behind — and a generation is just, I mean, we’re not talking decades, we’re not even talking five years. We’re just talking a matter of years and months. And so if you look at, you know, China spent two hundred billion trying to catch us in semiconductors. Now they’ve appointed a chip czar and his budget is a trillion dollars over the next 10 years. So we’ve got to really, really move fast on this. And you know, this is going to send out all the right message to everybody because this is going to send the message to the private sector to, you know, Eric and my old colleagues that look, US technological leadership is a strategic national imperative. And yes, the United States government is here to partner because this is so critical. And this bill, you know, I wrote a little op ed on it about this is equivalent to the Apollo program. And you look at it in today’s dollars, that was about a hundred and fifty billion. And you look at it, it put us dominant in the electronics business, the aerospace business.. it’s still paying dividends. So speed on this thing is everything.