Perfect timing on the passage of the
https://www.bloomberg.com/news/articles/2022-03-28/senate-passes-china-competition-bill-to-start-talks-with-house
Senate Passes China Competition Bill to Start Talks With House
Passage a key step toward negotiating compromise legislation
Both chambers back $52 billion to aid chip manufacturing
The Senate Monday passed its version of a long-stalled bill to aid the domestic semiconductor industry and bolster U.S. competitiveness with China, a key step needed to kick off negotiations with the House on final legislation.
“America cannot afford to come in second place when it comes to technologies like 5G, AI, quantum computing, semiconductors, bio-engineering and so much more,” Senate Majority Leader Chuck Schumer said before the vote “This bill is a necessary step towards securing the bright future of American ingenuity which has always helped us lead the way.”
Sen Schumer introduced the bill along with Senator Todd Young, an Indiana Republican, last year. Despite backing from the semiconductor industry and the White House, the legislation was left in limbo as the House took a different approach on how to encourage innovation and manufacturing. The Senate focused on developing new technology while the House emphasized basic research and development.
The Senate voted 68-28 for the plan, which includes $52 billion in grants and incentives to bolster chip manufacturing as well as provisions aiming to jump-start innovation and bring key industries back to the U.S. amid a global supply chain crunch.
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Thank You to Sen Schumer & our Dem majority in DC.
To President Biden & his superior team, who keeps their eye on moving the ball forward for American competition & self sufficiency
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