US Senate Countering China: US Senate passes bill investing USD 52 billion in semiconductor production
Washington: The US Senate has passed a long-awaited bill aimed at boosting US semiconductor production in a bid to increase American competitiveness.
It passed with broad bipartisan support, 64 to 33, reports CNN.
The measure now goes to the House for approval before it can be sent to President Joe Biden for his expected signature.
The legislation is aimed at addressing a semiconductor chip shortage and making the US less reliant on other countries such as China for manufacturing, reports CNN.
Senate Majority Leader Chuck Schumer tweeted: " The Senate has passed the Chips and Science bill—one of the largest investments in science, tech, and manufacturing in decades! This will create good-paying jobs, make microchips in the USA, alleviate clogged supply chains, boost America’s security interests, & lower costs."
New York State Governor Kathy Hochul said: " Thank you
@SenSchumer for your leadership in passing this critical legislation & your partnership in making New York a national leader in the semiconductor industry. Chip manufacturing is crucial to our economy & national security, while creating good-paying jobs in our state."
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
