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Wednesday, 26 January 2022 15:24

U.S. House Leaders Unveil Chips, China Competition Bill

Written by David Shepardson and Patricia Zengerle, Reuters

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U.S. House of Representatives leaders on Jan. 25 unveiled a bill aimed at increasing U.S. competitiveness with China and supporting the U.S. chip industry, including $52 billion to subsidize semiconductor manufacturing and research.

President Joe Biden's administration is pushing to persuade Congress to approve funding to help boost chip production in the U.S., as shortages of the key components used in autos and computers have exacerbated supply chain bottlenecks.

 

House Speaker Nancy Pelosi said the 2,900-page bill, called the "America Competes" act, would "supercharge" investment in chips and boost U.S. manufacturing and research capacity, as well as advancing U.S. competitiveness and leadership.

 

To read more, see Reuters.