Tech billionaire Elon Musk’s outsize role in GOP politics is alarming China hawks in Washington — and they’ve already witnessed his power to block their priorities.
When Musk killed a government spending package last month — which he described as “criminal” and a waste of money — he also killed the passage of a long-debated measure to scrutinize American companies’ investments in sensitive Chinese industries, such as artificial intelligence, quantum computing and semiconductors.
The outbound investment screening bill, which was tucked into the original spending deal, was seen by supporters as essential for outcompeting China in a fierce technology race. The bill’s backers also hoped it would prevent U.S. firms from being complicit in human rights abuses or a Chinese military buildup. But there’s a new Congress now, which means lawmakers have to start the legislative process all over again. They will have to contend with different committee chairs, win support and try to find a legislative vehicle to enshrine it in law, however long that takes.