Sen. Rand Paul (R-Ky.) sharply criticized the Trump administration’s proposal to acquire a 10 percent stake in Intel, arguing the move would resemble socialism.
“If socialism is government owning the means of production, wouldn’t the government owning part of Intel be a step toward socialism? Terrible idea,” Paul wrote Wednesday on X, linking to news reports on the plan.
Commerce Secretary Howard Lutnick confirmed the administration is in talks to secure the stake, saying it would be funded with money already allocated under the Biden-era CHIPS and Science Act. Reports suggest the deal could convert federal grants promised to Intel into equity.
“The president figures out that… America should get the benefit of the bargain,” Lutnick said on CNBC. “Why are we giving a company worth $100 billion this kind of money?… The answer Donald Trump has is we should get an equity stake for our money.”
Paul, a longtime critic of government expansion, has previously voted against Trump’s major spending bills, warning of ballooning national debt. His latest criticism underscores tensions between libertarian Republicans and the administration’s willingness to expand federal involvement in industry.
Sources:
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
