Senate passes bill to boost US tech industry and compete with rivals – Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky 2021-06-08 20:14:31 –

Washington (AP) — The Senate has approved the overwhelming majority of bills that invest more than $ 200 billion in technology, science, and research.

The bill is intended to protect economic and national security, especially in the face of intensifying international competition with China. Parliamentarians approved the bill with a 68-32 vote, and 19 Republicans joined the Democratic Party to pass the bill.

At the heart of US innovation and competition law is an urgent $ 50 billion allocation to the Department of Commerce to support semiconductor development and manufacturing through research and incentive programs previously approved by Congress.

Support for the bill shows that China’s economic confrontation is its mission to unite the two parties in a split parliament.

The bill will be sent to the House of Representatives and asked to be signed at Mr. Biden’s desk. It is not clear when the House of Representatives will pass the bill.

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