Senate Advances Bill to Boost Semiconductor Production

“The Senate voted to advance a slimmed-down version of its bill designed to boost U.S. semiconductor competition with China,” CNBC reports.

“The bill cleared a key procedural hurdle Tuesday evening in a 64-34 vote even as lawmakers worked to finish various sections of the legislation.”

“The bill, which would provide about $50 billion in subsidies to bolster U.S. computer chip manufacturing, is a multifaceted bipartisan effort that combines the interests of several committees, ranging from national security to economics.”

Punchbowl News notes the bill might be expanded as it secured significant bipartisan support.