U.S. Congress passes long-awaited bill to boost chipmakers, compete with China

Published by
Reuters

By David Shepardson and Patricia Zengerle WASHINGTON (Reuters) -The U.S. House of Representatives passed sweeping legislation on Thursday to subsidize the domestic semiconductor industry as it competes with Chinese and other foreign manufacturers, sending the bill to the White House for President Joe Biden to sign into law. The final vote was 243 to 187, with one Democrat – Representative Sara Jacobs – voting present. Twenty-four Republicans joined 218 Democrats in backing the measure. The Senate passed the “Chips and Science” act with bipartisan support on Wednesday, after more than a year of…

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