U.S. Senate passes bill to boost chip manufacturing, compete with China

Published by
Reuters

By David Shepardson and Patricia Zengerle WASHINGTON (Reuters) – The U.S. Senate on Wednesday passed sweeping legislation to subsidize the domestic semiconductor industry, hoping to boost companies as they compete with China and alleviate a persistent shortage that has affected everything from cars, weapons, washing machines and video games. The Senate passed the long-awaited bill on a 64 to 33 bipartisan vote. The House of Representatives is expected to approve it as soon as later this week, which would send it to the White House for President Joe Biden to sign into law. The long-awaited “Chi…

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