Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Pelosi Backs Senate’s Semiconductor Bill, Sees Vote Next Week

July 20, 2022, 1:32 PM

House Speaker Nancy Pelosi backed a compromise Senate bill that provides subsidies for the semiconductor industry, and said she plans for a House vote on it as soon as next week.

With her Wednesday statement of support for the Senate bill, which funnels $52 billion to chipmakers, Pelosi signals a close to a yearlong deadlock between the House and Senate on a legislative package designed to bolster US competition against China. Her backing greatly boosts chances of passage before the August congressional recess.

Pelosi and House Democrats had long pushed to add environmental provisions and compensation for workers displaced ...