biggest economy. And it already has the second largest defense budget, investing heavily in new capabilities." He also said that NATO did not want to "create new adversaries". The United States' NATO representative at the event referred to China as a "competitor". On May 20, 2020, in accordance with the John S. McCain National Defense Authorization Act for Fiscal Year 2019, the Trump administration delivered a report, "U.S. Strategic Approach to the People's Republic of China" to members of the U.S. Congress. The report states a whole-of-government approach to China under the 2017 National Security Strategy, which says it is time the U.S. "rethink the failed policies of the past two decades – policies based on the assumption that engagement with rivals and their inclusion in international institutions and global commerce would turn them into benign actors and trustworthy partners". The report says it "reflects a fundamental reevaluation of how the United States understands and responds to" the leaders of China, adding "The United States recognizes the long-term strategic competition between our two systems." In February 2021, U.S. president Joe Biden said that China is the "most serious competitor" that poses challenges on the "prosperity, security, and democratic values" of the U.S. U.S. secretary of state Antony Blinken stated that previous optimistic approaches to China were flawed, and that China poses "the most significant challenge of any nation-state in the world to the United States". Blinken also agreed that Biden's predecessor, Donald Trump, "was right in taking a tougher approach to China". In April 2021, the U.S. Senate introduced major legislation in response to China's growing clout in international affairs. The bill, titled "Strategic Competition Act of 2021", reflects hardline attitude of both congressional Democrats and Republicans, and sets out to counter the Chinese government's diplomatic and strategic initiatives. Senate Foreign Relations Committee Chairman Bob Menendez (D-NJ) said, "The Strategic Competition Act of 2021 is a recognition that this moment demands a unified, strategic response that can rebuild American leadership, invest in our ability to out-compete China, and reground diplomacy in our core values", adding "The United States government must be clear-eyed and sober about Beijing's intentions and actions, and calibrate our policy and strategy accordingly." In May 2021, the Strategic Competition Act of 2021 was consolidated into a larger bill, the United States Innovation and Competition Act (USICA), authorizing for basic and advanced technology research over a five-year period.