Bloomberg Law
March 29, 2022, 8:28 AM

Senate Passes China Competition Bill to Start Talks With House

Daniel Flatley
Daniel Flatley
Bloomberg News

The Senate Monday passed its version of a long-stalled bill to aid the domestic semiconductor industry and bolster U.S. competitiveness with China, a key step needed to kick off negotiations with the House on final legislation.

The Senate voted 68-28 for the plan, which includes $52 billion in grants and incentives to bolster chip manufacturing as well as provisions aiming to jump-start innovation and bring key industries back to the U.S. amid a global supply chain crunch.

“America cannot afford to come in second place when it comes to technologies like 5G, AI, quantum computing, semiconductors, bio-engineering and so much ...

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