Are Republican Senators conniving spendthrifts or babes in the Beltway? We lean toward the former after watching a $76 billion semiconductor subsidy bill morph within minutes on Tuesday night into a $250 billion bipartisan spendarama.
The Senate voted 64-34 to begin debate on its Chips bill, a corporate-welfare vehicle providing $52 billion in grants and $24 billion in tax credits to the profitable semiconductor industry. But it turns out that bill was merely the bad news. The really bad news is that Majority Leader Chuck Schumer quickly filed a 1,054-page bipartisan amendment to pour more than twice that amount of money into federal agencies.