A measure aimed at aiding the U.S. semiconductor industry and other high-tech sectors might end up getting signed into law by President Joe Biden this summer — earlier than initially expected.
A key House committee on Tuesday made amendments to bipartisan legislation that aims to boost American science and technology programs and counter China’s growing influence, with the action coming after the Senate last week voted 68-32 in favor of a related bill.
Over in the Senate, the $250 billion bill approved last week is known as the U.S. Innovation and Competition Act, and it provides $52 billion for the semiconductor industry SMH, -0.86% SOXX, -0.82% and incorporates an earlier bipartisan measure known as the Endless Frontier Act. Meanwhile, the panel’s chairwoman, Democratic Rep. Eddie Bernice Johnson of Texas, stressed that she favored the House legislation over other approaches.
It’s “theoretically doable” that other House committees that have jurisdiction on these issues will do their work “in the next two months before the August recess,” analysts at Capital Alpha Partners said in a recent note.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Joe Biden was corrected by Boris Johnson after the president interrupted him at the G7 summitBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Queen Elizabeth Met Jill and Joe Biden for Tea at Windsor CastleThe Queen met with Joe and Jill Biden for tea at Windsor Castle yesterday, and there was a different energy than her 2018 meeting with Biden's predecessor.
Read more »
Joe Biden told Putin he had no 'soul' during odd Kremlin visit in 2011The then-VP claimed he looked into the Russian leader's eyes and told him, 'I don't think you have a soul' during their handshake.
Read more »
E.U. leaders welcome U.S., Joe Biden back to 'global scene''America is back. We are committed —we have never fully left — but we are reasserting the fact it is overwhelmingly in the interest of the United States to have a great relationship with NATO and with the EU,' President Joe Biden said, adding he has 'a very different view than [his]
Read more »
China says U.S. is 'very sick' after Joe Biden rallies G7 and NATOBeijing on Tuesday dismissed the communiques coming out of the G7 and NATO summits, accusing Western countries of forming a 'clique' to suppress China's development.
Read more »