China Bill to Include $52 Billion for U.S. Chip Manufacturing
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The Senate will include $52 billion to bolster domestic semiconductor manufacturing in a broader bill to enhance U.S. competitiveness with China, Senate Majority Leader Chuck Schumer said.
Schumer called it “a historic and immediate infusion of federal money” to restore manufacturing of semiconductors in the U.S.
A measure to authorize the money to support the domestic semiconductor industry was included in 2021 defense policy bill, but it didn’t actually provide the funding. The addition to the China bill, which is based on legislation Schumer sponsored with Indiana Republican Sen. Todd Young, would remedy that.
“This is a very big deal,” Schumer said.
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