China bill accused of being 'corporate welfare' as semiconductor lobby ramps up spending ahead of passage
Fox News
Senate Republicans are split on whether to support a bill aimed at funding semiconductor manufacturing and competing with China that appears set to pass.
Tyler Olson covers politics for Fox News Digital. You can contact him at tyler.olson@fox.com and follow him on Twitter at @TylerOlson1791.
The base of the bill is $52 billion in funding for the U.S. semiconductor industry, which makes computer chips that power everything from cars to smartphones. But it's also growing, with many other provisions being added related to competing with China on research, intellectual property and more – and the bill is on pace to possibly exceed $200 billion.
Those who support it say it will be a boon for U.S. competition with China, while Republicans opposed to it say the bill will be counterproductive to that goal.
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