Trump’s Intel deal opens republican divisions in Congress

Republicans in Congress are divided around what they feel about the movement of the White House to gain arrows in Intel.

Trump administration and chips factory The deal was announced Last week, which will witness the United States investing 8.9 billion dollars in unpaid grants of the Law of Chips and Science for a 10 % stake in the company.

This step caused a stir between some Republicans, including Senator Todd Yong, R Reeder, one of the chips law engineers.

“It was not the intention of the law, as you know, a share in the shares to be taken,” Young said. “But the intention was to ensure that economic security and national security, the goal they are trying, is to try to advance.”

The Republican Party legislators collide with the strategy to avoid the government closure crisis

Under the law, which was passed under the Biden administration in 2022, Intel was scheduled to receive approximately $ 11 billion in financing to support design in the United States only 24 and 17 Republicans who voted in its favor in the House of Representatives and the Senate, respectively.

president Donald Trump INTEL may be the first to be the first of several such deals.

In fact, he said: “I paid zero for Intel, and it is worth about $ 11 billion.” “Everything goes to the United States of America. Why are” stupid “are not satisfied with that? I will make deals like this to our country throughout the day.”

“I am sure that at some point there will be more transactions, if not in this industry, then in other industries,” CNBC.

When asked if this is a strategy that the administration should use again and again, Yong said, “No.”

“The US federal government should not be the purchase of companies,” MP Don Bacon, R-NB, told Fox News Digital.

But Senator Bernie Moreno, R-OHIO, was mentioned in a forum with the Cleveland City club last week Chips The Intel effectively gave billions of taxpayer money with little in return. The company has announced two semiconductor projects in Ohio, and has planned to have a semiconductor manufacturing facility now operating, but the project has been late for several years.

He said that Trump’s point was not to save the company, but instead “if a company will ask for help, if the company will ask for money, the taxpayer must get property rights.” If I succeed, he said: “We can sell these shares and recover money for taxpayers. For me, this is the common sense.”

Other legislators, such as bacon, looked at the fact that the acquisition as a slippery slope is more in line with governments such as China and Russia.

“The constitutional role of our government is not, and we do not want to be like capitals in Beijing or Moscow,” said Pacon.

Republicans in the state of Blogras Senator Rand Paul and MP Thomas Massi have accumulated the deal; Paul described the move as a “terrible idea” and suggested that the government that has a stake in Intel will be a “step towards socialism.”

Massi claimed that the government should not have a special property in private companies and the chips law becomes the “corporate care program that failed”.

Biden’s assistant has long been said that he has been standing up to $ 8 million.

On X, he said.

At the same time, some legislators were not ready to bomb the deal, or future deals, either to run for the law or be a step towards the government to possess the means of production.

MP Andy Oujlis told R-ENN. Fox News Digital that he did not look specifically the deal, but he said, “There are conversations that must be on this topic, and under the appropriate or inappropriate circumstances, and it is determined.”

Representative Mike Haridopoulos, R-FLA, looked at the deal as a blessing for the country, especially in seeking Ween America off the imports of chips.

“Dependence on foreign suppliers puts us in a non -favorable position and risk our security,” he told Fox News Digital. “By converting granting $ 11 billion from the Chips Law to Intel to property rights, we are strengthening our supply chain, building chips here at home, and ensuring that taxpayers get their investments.”

Get Fox Business on the time

Representative Randy Fine, R-FLA, refused the concerns of colleagues of the Republican Party on how to use the chips law.

“I think the president makes lemon juice,” Fine told Fox News Digital. “I mean, the chips law was not our idea. Joe Biden wanted to give up the farm. Well, President Trump tries to turn this into something good to America.”

“The previous administration has prompted legislation to clarify billions of grants that gave DEI priority to the return of the taxpayer to some of the largest semiconductor companies in the world,” White House spokesman Kush Disai told Fox News Digital when it was reached to comment.

“Now the Trump administration guarantees that taxpayers can earn the upward trend of the federal government’s investments in protecting our national and economic security-all with the payment of reforms on the offer at the same time such as standard cancellation and tax cuts in the beautiful market to allow the free market in America as the most dynamic in the world,” Disai said.