Biden Enlists Business Executives to Push Bill Countering China Tech Threat

Executives from computer maker

HP Inc.,

engine manufacturer

Cummins Inc.,

and appliance producer Whirlpool Corp. are among those set to attend an event with Mr. Biden at the White House on Wednesday, along with Indiana’s Republican Gov.

Eric Holcomb

and Michigan’s Democratic Gov.

Gretchen Whitmer.

The Senate in June passed its $250 billion version of the measure, the U.S. Innovation and Competition Act, on a bipartisan basis. The House approved its version, called the America Competes Act, along mostly party lines, with Republicans objecting to measures in that version aimed at addressing issues such as climate change, human rights and social inequality.

The House and Senate must resolve the differences in a conference process.

The White House has seen other parts of its domestic agenda stall and has turned to the competition legislation as an opportunity to get something done as the midterm elections approach.

“Time’s up,” Commerce Secretary

Gina Raimondo,

who is consulting with congressional leaders, said in an interview Tuesday. “We have to take the two-thirds of it or so with this broad agreement, get that done” and work on the rest, she said.

Both the House and Senate versions of the bills seek to increase federal support for scientific research and new technologies. Both authorize $52 billion for encouraging more semiconductor production in the U.S.

Chips shortages have become a global problem during the Covid-19 pandemic, as they are used in a wide range of products, including consumer electronics, medical equipment and vehicles.

Also joining will be executives from

Samsung Electronics Co.

,

Micron Technology Inc.

and

Medtronic

PLC.

Mr. Biden urged Congress to act on the legislation in his State of the Union address, during which he introduced

Intel Corp.’s

chief executive as his guest.

“So, let’s not wait any longer. Send it to my desk, I’ll sign it, and we will really take off in a big way,” the president said in the address earlier this month.

Mr. Biden and fellow Democrats, who currently have slim control of the House and Senate, are facing challenges ahead of the midterm elections, with inflation at a 40-year high and gasoline prices spiraling upward. The president has outlined a number of steps to rein in prices, though short-term solutions are elusive.

The competition bills also wouldn’t address the current situation. Ms. Raimondo, however, said increasing domestic production of semiconductors and critical components could shield against future system disruptions.

“This bill is saying let’s get back into the business of investing in American innovation,” she said.

Write to Alex Leary at [email protected]