U.S. Senate votes to advance sweeping semiconductor industry bill

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WASHINGTON (Reuters) – The U.S. Senate voted 64-32 on Tuesday to advance legislation to boost U.S. semiconductor manufacturing to address concerns about competition with China. The legislation provides about $52 billion in subsidies for U.S. semiconductor production as well as an investment tax credit for chip plants estimated to be worth $24 billion. The Senate is expected to vote on final passage in coming days and the U.S. House could follow suit as soon as later this week. (Reporting by David Shepardson and Patricia Zengerle; Editing by Mark Porter)

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