The 2021 USICA, formerly known as the Endless Frontier Act, is US legislation passed by the US senate to enhance United States competition in industrial strength in things like technology, manufacturing, etc. It aims at helping the US to continue to be able to compete with China which is currently the world’s second-largest economy but is projected to become the largest economy in around 10 – 15 years if things stay at the current trajectory.
Some of the things the 2021 US Innovation and Competition Act does are appropriate $110 billion for advanced and basic technology research over the next five years. The act also puts forth investment in advanced energy, biotechnology, research & commercialization, communications, and training programs in quantum computing, semiconductors, and artificial intelligence which is set at $100 billion.
The Act also appropriates $10 billion to ten regional hubs designated with creating a response program concerning supply chain crises.