The Senate on Wednesday is set to vote on final passage of a $280 billion bill aimed at boosting domestic semiconductor production and funding science and technology research, a key priority for the Biden administration and major manufacturers.
The final vote was 64-33, with seventeen Republicans, including Minority Leader Mitch McConnell, R-Ky., voting in support of the measure along with nearly the entirety of the Democratic caucus. Sen. Bernie Sanders, I-Vt., was the only non-Republican to vote against the measure.
NEW: The Senate has passed the Chips and Science bill—one of the largest investments in science, tech, and manufacturing in decades! It also contains $200 billion for federally backed scientific research, $1.5 billion for the development of “open-architecture, software-based wireless technologies” and $11 billion for the Commerce Department to establish “regional technology hubs” nationwide.
“America invented semiconductors, but over the years, we let the manufacturing of those semiconductors get sent overseas,” Biden added. “And we saw that during the pandemic, when our factories overseas that make these chips shut down, the global economy basically comes to a halt, driving up the costs for families all around the world — but particularly here at home.”
The SK Group said it would invest $15 billion in the semiconductor industry, including research and development, materials and a new packaging facility. SK Group Chairman Chey Tae-won said the investments would create “tens of thousands” of “highly-paid and highly-skilled” jobs.
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