The Senate on Tuesday passed a $250 billion bipartisan bill to ensure that the U.S. remains competitive with China as one of the globe’s technological powerhouses.
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"Passing this bill— now called the U.S. Innovation and Competition Act—is the moment when the Senate lays the foundation for another century of American leadership," Schumer said from the Senate floor Tuesday evening. The bill would also fund a grant program managed by the Commerce Department that would match financial incentives offered by states and local governments to chipmakers who improve upon or build new factories.
"Senate passage of USICA is a pivotal step toward strengthening U.S. semiconductor production and innovation and an indication of the strong, bipartisan support in Washington for ensuring sustained American leadership in science and technology," said John Neuffer, CEO of the SIA. "Enactment of these investments would help strengthen America's economy, national security, technology leadership, and global competitiveness for years to come.
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