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“The Biden administration gave Intel $11 billion in exchange for nothing—nothing. So Donald Trump comes in and says, whoa, whoa, why don’t you give us $11 billion of your equity? At least America gets the benefit of the bargain.” Secretary @HowardLutnick gives a quick break down https://t.co/aBRj1NZPwQ
Commerce Sec. @howardlutnick: Biden gave Intel $11B in exchange for nothing. President Trump comes in and says, 'Why don't you give us $11B of your equity?' "At least America gets the benefit of the bargain. I mean, doesn't that make sense?" https://t.co/VDt2MqLfgX
Wouldn't the government owning part of Intel be a step toward socialism? Sec. @howardlutnick: ‘Biden gave Intel $11B for nothing — that’s beyond socialism. Trump says taxpayers should get equity. That’s fair. That’s the best businessman in the Oval Office.’ https://t.co/hBjNiI2VLS
U.S. Commerce Secretary Howard Lutnick said the Trump administration is considering taking equity stakes in companies that receive large federal subsidies, arguing that taxpayers should share in the upside created by public support. Lutnick contrasted the approach with an $11 billion grant Intel Corp. received under President Joe Biden, which he said provided Americans "nothing" in return. Lutnick also criticized the current system governing federal research funding, noting that universities receive as much as $200 billion a year in taxpayer money yet typically retain full ownership of resulting patents. The Commerce chief signaled the administration plans to overhaul those rules so the federal government can capture part of the financial gains from publicly financed innovation.
