The U.S. House of Representatives will take up a bill next week aimed at increasing competitiveness with China and supporting the U.S. chip industry, including $52 billion to subsidize semiconductor manufacturing and research.
House Majority Leader Steny Hoyer said Friday that the House would vote on the 2,900-page bill, called the "America Competes" act, saying it would "make further strides in innovation, technology, and advanced manufacturing." The bill also authorizes $45 billion to support supply-chain resilience and manufacturing of critical goods, industrial equipment, and manufacturing technology.
President Joe Biden's administration is pushing Congress to approve funding to subsidize chip production in the United States, as shortages of the components used in autos and computers have increased supply chain bottlenecks.