Breaking Overnight — Former Japanese Prime Minister Shinzo Abe was shot
and killed during a campaign speech Friday in western Japan. He was 67.

And, Chuck Schumer made a couple of new moves in his effort to advance
two pieces of legislation tangled in political knots.

Recall that Senate Minority Leader Mitch McConnell recently tweeted,
“There will be no bipartisan USICA as long as Democrats are pursuing a
partisan reconciliation bill.”

USICA, the United States Innovation and Competition Act, is the
industrial policy legislation that would shower the semiconductor
industry with $52 billion of incentives to ramp up chip-making in
America. China hawks like the bill because it makes the U.S. less
reliant on Chinese imports. The Biden administration hails it as a
policy that will strengthen the supply chain, boost domestic
manufacturing, and “help us outcompete China.”

The new reconciliation bill being negotiated by Schumer and Sen. Joe
Manchin (D-W.Va.), who tanked the last one in December, has been inching
along.

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