Speaker Pelosi and House Democrats’ nearly 3,000-page America CONCEDES Act destroys our competitive advantage and helps fund the Chinese Communist Party’s (CCP) espionage and intellectual theft in our universities.
THE FACTS ABOUT THE DEMOCRATS’ CONCEDES ACT
- America Concedes Act – Education and Workforce Development:
- A recent report projects that by 2025, China’s yearly STEM PhD graduates will nearly double those in the U.S., with about 80,000 Chinese graduates saturating the job market compared to the U.S.’s 40,000.
- IP theft costs the U.S. economy hundreds of billions of dollars annually and reduces U.S. R&D investment and innovation.
- China is the largest perpetrator of IP theft and according to a comprehensive 2017 report, Chinese IP theft has cost the United States $225 billion to $600 billion a year.
- According to FBI, the CCP has been working to gain access to the trade secrets of U.S. and multinational corporations though ‘academic espionage,’ relying on scholars and researchers as spies.
- The America Concedes Act fails to combat CCP disinformation and academic espionage by:
- Allowing for an unlimited number of members of the Chinese Communist Party to take advantage of the new visa program in which individuals with Ph.D. degrees in STEM fields would be exempt from annual green card caps.
- Failing to prevent the Chinese Communist Party and other foreign adversaries’ influence on college campuses.
- Weakening sanctions from the Department of Education on higher education institutions that fail to disclose large donations and contracts with foreign actors, including the Chinese Communist Party.
MAKE NO MISTAKE: With the CONCEDES Act, House Democrats are putting America last and China first. Speaker Pelosi’s bill will strengthen the CCP’s influence in our universities domestically while also empowering their education, innovation, and workforce abroad.