Sen Rand Paul (Q.), an Independent Republican, criticized the Trump administration Push to achieve a stake In the American chipmaker Intel, suggesting that the step would be “a step towards socialism”.
“If socialism is the owner of the means of production, will the government not be part of Intel, a step towards socialism?” Paul said on Wednesday Post on social platform x,
“The terrible view,” he said, adding a news about the latest attempt.
The Trump administration is interacting to secure a 10 percent stake in the company, making the US government one of the largest shareholders in Intel.
Commerce Secretary Howard Lutnik said on Tuesday that the funds for the stake would come from the funding of the Biden-era already allocated. Media reports have suggested that this stake will be in exchange for changing the grants promised for Intel under the Chips and Science Act.
Lutnik told CNBC’s “squalk box”, “The President comes to know that we should meet, America should get the benefit of bargaining.”
“I mean, this is actually a perspective of Donald Trump, which is, why are we giving such a money like a company of $ 100 billion?” He continued. “What’s for the American taxpayer in this? And Donald Trump’s reply is that we should get an equity share for our money.”
Paul has long been pushed to play a small role in the daily life of Americans and American economy for the federal government. He voted against President Trump’s legacy-defined policy bill, which cited concerns about increase expenses and national loans.
