Senate Passes $250 Billion Bipartisan Tech Innovation Bill to Counter China

The Senate voted 68-32 on Tuesday in favor of bipartisan legislation to boost U.S. competitiveness with China by investing about $250 billion in U.S. technology development. Specifically, the bill includes $52 billion for semiconductor production, invests in technologies like artificial intelligence, and creates a new technology directorate at the National Science Foundation. The bill, titled the U.S. Competition and Innovation Act, was initially sponsored by Sens. Chuck Schumer (D-N.Y.) and Todd Young (R-Ind.) in April and faced weeks of debate before it was passed. The Chinese government issued a statement Wednesday morning expressing its “strong dissatisfaction and resolute opposition” to the bill. The bill will now go to the House of Representatives, which may amend it; President Joe Biden said he looked forward to “signing it into law as soon as possible” in a statement issued Tuesday.

Coverage was mostly balanced across the spectrum. Some coverage described the bill as historically significant, with the New York Times calling it “the most significant government intervention in industrial policy in decades” and Fox News saying it could be the “most significant bipartisan achievement for current Congress.”