The Senate awesomely approved a bill Tuesday that aims to enhance US semiconductor production and the development of artificial intelligence and other technology in the face of growing international competition, most particularly from China.
The bill is a bid to protect economic and national security in the face of growing international competition, most notably from China. Lawmakers have nodded the bill by a vote of 68-32, nineteen Republicans joined Democrats to pass the bill.
The centerpiece of the U.S. Innovation and Competition Act is a $50 billion emergency allotment to the Commerce Department to stand up semiconductor development and manufacturing through research and incentive programs previously authorized by Congress.
Support for the bill demonstrates how confronting China economically is a mission that unites both parties in a divided Congress. The bill now heads to the House of Representatives before going to Biden's desk for his signature. It's not clear when the House will vote on the measure.
Supporters described it as the biggest investment in scientific research that the country has seen in decades. It comes as the nation’s share of semiconductor manufacturing globally has steadily eroded from 37% in 1990 to about 12% now, and as a chip shortage has exposed vulnerabilities in the U.S. supply chain.
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