Semiconductor Tax Break Sought by Senators in Competition Bill

Senate Finance Committee leaders want a semiconductor tax credit to be included in a broader China competition measure, but the effort runs the risk of bogging down talks.

Lawmakers want to send a bill to boost U.S. competitiveness against China to President Joe Biden’s desk by the end of the summer, before they head back to their districts to focus on campaigning. Negotiations are now beginning, with conference members under pressure to find a compromise that can pass in both chambers.

Still, Sens. Ron Wyden (D-Ore.) and Mike Crapo (R-Idaho) told Bloomberg Government they will push for the inclusion of ...