Senate Passes Sweeping Bill to Help U.S. Compete With China (1)

The Senate overwhelmingly passed an expansive bill to invest almost $250 billion in bolstering U.S. manufacturing and technology to meet the economic and strategic challenge from China.

The 68-32 vote on the legislation Tuesday was a rare spot of bipartisanship in an otherwise polarized Senate and a clear indicator of the concern in both political parties that the U.S. risks falling behind its biggest global competitor.

LISTEN: Bloomberg’s Tom Mackenzie discusses the bill with Nathan Hager on Bloomberg Radio.

“When all is said and done, the bill will go down as one of the most important things this chamber has done in a very long time,” Senate Majority Leader Chuck Schumer said ...