Extensive bipartisan bills to strengthen America’s competitiveness with China restore key investment in manufacturing and technology that top Democrats were at risk of being dropped after months of negotiations After moving to do, he gained momentum in the Senate on Wednesday.
In a test vote on Tuesday night, the Senate agreed to take the most politically powerful and commercially urgent action. It is a law that grants more than $ 52 billion in subsidies and tax credits to semiconductor manufacturers in the United States.
64-34 votes provided broad support for years of effort to enact broad industrial policy legislation to counter China’s technological and manufacturing dominance. The project appeared to have been spattered in recent weeks as legislators worked to reach an agreement on a vast bill.
After 16 Republican senators voted to support the bill, New York Democrat and Majority Leader Chuck Schumer said many important research and development bills that were previously on the sidelines. Was returned to the bill. In a rare exercise, Mr. Schumer said he would add a clause only if the bill received 60 votes, showing that he could overcome filibuster and pass in the Senate.
Currently, the Senate is set to promote a broader package that grants approximately $ 250 billion for research and development of critical technologies. Written by Midwesterner and New Yorker (Republican Schuma and Senator Todd Young), these are on the once booming industrial hub to revitalize the hollowed-out community of corporate offshoring. I’m trying to focus my investment.
“All this will help America lead the way to tomorrow’s technology development,” Schumaer said. “When we invest in science here, we create millions of new high-paying jobs, ensuring that America will be the leader in these cutting-edge issues that will dominate the economy of the 21st century. . “
The Senate could pass the bill as early as this week, with Chairman Nancy Pelosi praising the bill on Wednesday and the House of Representatives as early as next week, praising it as “a big victory for American families.”
Hundreds of measures contained in the original bill have been removed from the law, including a provision that gives government oversight to American companies considering investing in foreign countries.
In addition to investing in research and development by the National Science Foundation and the federal government, Senators also said that federal-funded chip companies “present advanced semiconductors in certain countries that pose a national security threat.” Included wording prohibiting the expansion or construction of new manufacturing sites. America. “
Senators also included language banning federal research institute staff from participating in foreign recruitment programs.
