for semiconductor plants—lack safeguards to prevent companies from using the taxpayer money to buy back their own stock, offshore U.S. jobs, or fight unionization efforts.
Sanders was the only member of the Senate Democratic caucus to vote against the bill, which passed by an overwhelming margin ofIn a speech ahead of Wednesday's vote, the Vermont senator reiterated his criticism of the measure, characterizing it as a no-strings-attached handout to profitable companies.
"Whenever it comes to protecting the needs of low-income or working families, I hear over and over again, 'We just cannot afford to do that because of the deficit,'" Sanders said."All of that profound and serious concern about the deficit fades away when it comes to providing a $76 billion blank check to the highly profitable microchip industry with no protections at all for the American taxpayer.
"But rather than give aid to needy American families... the Senate decided to rise to the occasion to cut taxes for already-profitable technology companies like Intel," said Pearl."I'm sure this is great for billionaires like [Intel co-founder] Gordon Moore, but it doesn't do a thing for millions of Americans who need support in these challenging economic times.