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U.S. House leaders unveil chips, China competition bill

IMAGE: HousingWire.com

By David Shepardson and Patricia Zengerle | 25 January 2022

REUTERS — U.S. House of Representatives leaders on Tuesday 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 United States, 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.

The Senate passed the U.S. Innovation and Competition Act last year, which includes $52 billion to increase U.S. semiconductor production and authorizes $190 billion to strengthen U.S. technology and research to compete with China.[…]

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