US Senate approves bill investing in semiconductors

The U.S. Senate on Tuesday voted 68-32 in favor of legislation intended to battle back against overseas competition, especially a growing threat from China, including investing more than $50 billion into the making of semiconductors, a product badly needed by the auto industry.

The legislation also includes $2 billion in specific investments in older generation semiconductors used in auto-making and takes additional steps to push federal government agencies to purchase American-made products in contracts. 

Passage of the legislation had been expected after Democrats and Republicans largely came together two weeks ago to cut off debate and move it to the U.S. House, where final passage is all but assured. The Senate held off on a final vote until after the Memorial Day work period holiday to give Sen. John Cornyn, R-Texas, a vote on an amendment that would strip out a provision guaranteeing workers are paid prevailing wages for the localities in which the work is done.

Source link

Leave a Reply

%d bloggers like this: