Senate advances more than $50 billion bill to boost U.S. semiconductor production
The bill, which would provide about $50 billion in subsidies to bolster U.S. computer chip manufacturing, is a multifaceted bipartisan effort that combines the interests of several committees, ranging from national security to economics.
The Senate’s procedural step forward on Tuesday paves the way for the chamber to hold a vote on final passage later this week or early next week. The bill would then travel to the House for passage before it would head to President
’s desk for signature into law.
The broadest aim of the legislation is to incentivize semiconductor production within the U.S. to decrease dependence on Asia-based manufacturers.