Capitol Times Media
Next week, the US House will take up a bill on China's competition and chips industry
Next week, the House of Representatives will debate a plan aimed at enhancing competition with China and sustaining the US chip industry, which includes $52 billion in subsidies for semiconductor manufacturing and research.
Senate Majority Leader Steny Hoyer announced on Friday that the House would vote on the 2,900-page "America Competes" act, which would "make further strides in innovation, technology, and sophisticated manufacture," according to Hoyer. The plan also includes $45 billion in funding to enhance supply-chain resilience and key commodities, industrial equipment, and manufacturing technology manufacture.
Biden's administration is urging Congress to pass financing to subsidize chip production in the United States, citing supply chain bottlenecks caused by parts shortages in automobiles and computers.
On Friday, Commerce Secretary Gina Raimondo said the bill would "generate thousands of jobs around the country." In order to reinvigorate American manufacturing, Congress must enact that bill."
31 Jan 2022