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Senate’s Bipartisan Chips Bill Would Add $79 Billion to Deficit

July 21, 2022, 4:37 PM

The US Senate’s bipartisan bill to strengthen the nation’s technology sector in the face of Chinese competition was estimated Thursday to increase US budget deficits by $79 billion over a decade if enacted.

The nonpartisan Congressional Budget Office’s scoring of the package is in line with expectations, and isn’t expected to impair its chances for passage -- even if it hardens opposition among conservatives touting deficit concerns. The Senate on Tuesday opened debate on the bill by a tally of 64 to 34.

The CBO found that the draft bill would boost spending by $55 billion over 10 years, while ...