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Thursday, 10 June 2021 17:19

U.S. Senate Passes $250B Bill to Boost Nation’s Semiconductor Industry

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After a year of staunch advocacy to secure the domestic semiconductor and microelectronic supply line and make historic investments in federal R&D and innovation, U.S. Senate Majority Leader Charles Schumer, D-NY, announced Senate passage of the U.S. Competition and Innovation Act.

The act combines Schumer’s Endless Frontier Act and other bipartisan competitiveness bills, and includes $52 billion in emergency supplemental appropriations to implement the semiconductor-related manufacturing and R&D programs Schumer authorized in last year’s National Defense Authorization Act, as well as a program to support legacy chip production essential to the auto industry, the military and other critical industries.

 

An additional $1.5 billion was included for implementation of implement the USA Telecommunications Act also passed as part of last year’s NDAA to foster U.S. innovation in the race for 5G.

 

“Senate passage of the bipartisan U.S. Innovation and Competition Act moves forward historic legislation to invest in science, technology and U.S. manufacturing that will shore up critical industries like semiconductors, artificial intelligence, advanced communications like 5G, quantum computing, biotechnology and advanced energy, and create opportunity to reshape the Upstate New York economy with investment in new regional tech hubs and support for New York entrepreneurs and research at universities and laboratories,” Schumer said.

 

“With its rare combination of a world-class workforce, advanced manufacturers and renowned higher education institutions, I wrote and championed this legislation with Upstate New York always at the forefront of my mind,” Schumer added. “In the midst of one of the most consequential battles in our nation’s history, the U.S. Innovation and Competition Act lays the foundation for the next century of American economic leadership and preserves our competitive edge for generations to come, and I’ll continue to fight to put Upstate New York on the frontlines of that battle.”

 

Details on the supplemental appropriations

 

$49.5 billion is to be allocated over five years for a CHIPS for America Fund. Funding must be used to...


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