A $280 billion plan offering federal grants and tax breaks for semiconductor companies to lift production in the US now awaits a House vote after clearing the Senate.
Senate passes bill to boost computer chip production in US
A bill designed to encourage more semiconductor companies to build chip plants in the US passed the Senate on Wednesday as lawmakers raced to finish work on a key priority of the Biden administration.
The $280 billion measure, which awaits a House vote, includes federal grants and tax breaks for companies that build their chip facilities in the US.
The legislation also directs Congress to significantly increase spending on high-tech research programs that lawmakers say will help the country stay economically competitive in the decades ahead.
Senate passage came by a 64-33 vote. The House vote is expected later this week as lawmakers try to wrap up business before returning to their home states and districts in August.