The Senate is rushing this week to pass bipartisan legislation that aims to strengthen U.S. competitiveness with China by allocating tens of billions of dollars toward domestic semiconductor manufacturing.
If it passes the Senate as expected, the House will then take up the legislation. Supporters of the bill hope Congress will pass it and send it to President Joe Biden for his signature before the August recess, which begins in two weeks.
"America invented the semiconductor. It's time to bring it home," Biden said during a meeting at the White House on Monday afternoon. The president, who tested positive for Covid last week, participated in the meeting virtually. CHIPS-plus is a pared-down version of broader legislation that was long stewing in the House and Senate.The slimmer bill passed an early procedural motion last week in a bipartisan 64-34 vote. It is expected to clear the cloture vote that was previously scheduled for Monday.
Their diagnoses are not expected to derail the Senate's efforts to pass CHIPS-plus, but could impede Democrats' other legislative goals before the August recess.In Monday's meeting with Biden, national security advisor Jake Sullivan warned of enormous national security risks"that we face right now, today," due to supply-chain vulnerabilities made worse by the pandemic.
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