On Monday’s broadcast of the Fox News Channel’s “Ingraham Angle,” Secretary of Commerce Howard Lutnick stated that the Trump administration wants to reach arrangements with universities on research that they do with taxpayer dollars and the patents they get from the research that are similar to the deal the government struck to get 10% equity in Intel.
Host Laura Ingraham asked, “[T]he President also says he wants to get as much as he can and that he wants many more cases like Intel. So, tonight, tell me what companies you all might be looking at.”
Lutnick answered, “Well, think about this, I’ll give you an example: We give hundreds of millions to each university, tens of billions, up to 200 billion a year. They take that money and they do research and they get patents. And do you know who keeps them? The scientists and the university. And we, who pay all the money, the American taxpayers, we get nothing. This has got to change. We gave Intel — the Biden administration gave Intel $11 billion in exchange for 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. Doesn’t that make sense?”
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