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McConnell Threatens China Bill Over Biden Tax, Climate Plan

  • Threat could derail plans for semiconductor funding bill
  • Democrats hope to pass climate and tax bill by August
Senate Minority Leader Mitch McConnell

Senate Minority Leader Mitch McConnell

Photographer: Ting Shen/Bloomberg
Updated on

Senate GOP leader Mitch McConnell said he will block bipartisan legislation to boost US competition with China and provide subsidies for domestic semiconductor manufacturing as long as Democrats pursue a go-it-alone economic package.

McConnell made the threat as Senate Majority Leader Chuck Schumer is negotiating a scaled-back version of President Joe Biden’s economic plan with West Virginia Democratic Senator Joe Manchin. That plan includes prescription drug price cuts, tax hikes on the wealthy and corporations, and energy and climate provisions.