House Passes Bill To Boost U.S. Computer Chip Production
Newsy
The shortage of computer chips has led to higher prices for automobiles, electronics and medical devices.
Democrats muscled through legislation in the House on Friday that they say positions the United States to better compete with China economically and on the global stage by strengthening the domestic semiconductor industry and shoring up strained supply chains.
The bill passed by a vote of 222-210. It marks an important step for a top Biden administration priority, but the legislation is likely to be extensively revised as negotiators reconcile differences with what the Senate passed about eight months ago. President Joe Biden urged lawmakers to reach a deal quickly, saying, "America can't afford to wait."
The nearly 3,000-page bill, not counting scores of amendments added this week, includes massive investments designed to boost semiconductor manufacturing in the U.S. The big-ticket items include about $52 billion in grants and subsidies to help the semiconductor industry and $45 billion to strengthen supply chains for high-tech products.
