Opinion: The Ships Act is no CHIPS Act –Why Dave McCormick needs a calendar and a reality check

In this op-ed, PA resident Colin Coyle criticizes Dave McCormick for prioritizing foreign interests over American workers, contrasting it with Senator Bob Casey’s successful job-supporting initiatives like the CHIPS Act. 

Somebody on Dave McCormick’s campaign staff needs to buy him a calendar if he’s going to make the successful move from Connecticut hedge fund manager to Pennsylvania’s next senator. Because while the rest of us spent Labor Day weekend celebrating American workers, McCormick decided it was the perfect time to drop an op-ed advocating for an economic policy that would favor a foreign ship-maker over hardworking Pennsylvanians. Yes, you read that right—on a weekend meant to honor labor, McCormick was pushing a plan that could outsource jobs to South Korea. 

Let’s break this down. McCormick’s grand idea? Revive Philadelphia’s shipbuilding industry by supporting the recent bid from South Korea’s Hanwha Group to acquire the Philadelphia Shipyard. On the surface, it might sound like a job-creation bonanza. But here’s the catch: any potential jobs from defense shipbuilding are years, if not a decade, away. Before the first bolt is turned or the first sheet of steel is welded, this foreign acquisition would need to navigate a labyrinth of federal approvals. And even then, the shipyard would have to secure federal contracts—no small feat in today’s competitive defense industry.

So, while McCormick dreams of a shipbuilding renaissance, Pennsylvania’s workers would be left waiting, potentially for years, before seeing any real benefit. Meanwhile, the CHIPS Act, championed by Senator Bob Casey, is already delivering for Pennsylvanians. The CHIPS Act isn’t about resurrecting the past; it’s about building a future based on the strengths we already have. It’s targeted, it’s effective, and it’s creating good-paying, union jobs right now, not years down the line.

And speaking of union jobs, let’s not forget who McCormick’s plan would really benefit: a foreign company with no proven commitment to American workers or their rights. The sad truth is that foreign ownership of manufacturing tends to mean fewer union jobs. According to a 2020 report from the Economic Policy Institute, foreign-owned firms in the U.S. are less likely to have unionized workforces compared to their domestic counterparts. So, McCormick’s plan isn’t just a potential job killer—it’s a union job killer.

Contrast that with Senator Casey’s record. This is a man who has spent his career fighting for American workers, not just in word, but in action. Casey was a key advocate for the American Rescue Plan, which protected the pensions of 33,100 union workers and retirees in Pennsylvania. He’s also been a vocal supporter of a $15 minimum wage—because he understands that working Pennsylvanians deserve a living wage, not empty promises about shipbuilding jobs that might never materialize.

Moreover, Senator Casey has been a staunch defender of the American steel industry, fighting to protect it from foreign takeovers that threaten American jobs. Take the case of Nippon Steel, for example. Casey has worked tirelessly to ensure that America’s steel industry remains in American hands, safeguarding thousands of jobs across the country.

It makes sense that Connecticut’s McCormick would support outsourcing Pennsylvania jobs to Nippon Steel; his hedge fund has invested $4.6 million in the company in 2021. At the same time as he was investing $13.3 million in Chinese steel companies and placing an $84 million bet that the American steel industry would fail. It sure seems like McCormick is bullish on foreign takeovers of American jobs—at least when it benefits his bottom line.

So, the next time Dave McCormick decides to pen an op-ed, maybe he should take a page from Senator Casey’s book and focus on policies that actually benefit Pennsylvania’s workers instead of his hedge fund friends’ bank accounts. Because when it comes to creating jobs and supporting American labor, the Ships Act is no CHIPS Act—and Pennsylvanians deserve better.