Senate Passes $280 Billion Bipartisan Tech Bill to Boost China Competition
Summary from AllSides News Team
The Senate voted 64 to 33 on Wednesday to pass a $280 billion bill to boost tech production and development in a bid to compete with China.
The bill, called the CHIPS Act of 2022, includes $52 billion in investments and tax credits for U.S. semiconductor computer chip production, as well as roughly $200 billion for research into technologies like artificial intelligence, robotics, quantum computing, and more.
17 Republicans supported the bill, including Senate Minority Leader Mitch McConnell (R-Ky.) and Sen. Todd Young (R-Ind.), who said, “by passing this CHIPS-Plus bill, we are confronting the challenges of today and building a prosperous and secure tomorrow for all Americans.” Senate Majority Leader Chuck Schumer (D-N.Y.) called the bill “momentous,” and Sen. Mark Kelly (D-Ariz.) said it would create “tens of thousands of jobs.” Meanwhile, opponents like Sen. Bernie Sanders (I-Vt.) and Sen. Mike Lee (R-Utah) argued the bill’s investments amounted to “corporate welfare” and would help fuel inflation.
Most coverage was balanced and framed the bill around competition with China. Coverage was initially more prominent in left-rated outlets but was drowned out across the spectrum by news of the Federal Reserve’s interest rate hike.
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Senate passes China, semiconductor bill with House set to quickly take up measure
The Senate Wednesday passed a bill aimed at increasing U.S. competition with China by a 64-33 vote, sending the $250 billion measure to the House of Representatives.
The bill, officially called the CHIPS Act of 2022, cleared a 60-vote cloture hurdle Tuesday, setting it on course to easily pass Wednesday. House Speaker Nancy Pelosi, D-Calif., has said she plans to take up the bill quickly and send it to President Biden's desk.
"It’s been a long journey to get to this point, but history will show that by passing this CHIPS-Plus bill,...
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The Senate on Wednesday approved a sweeping package aimed at boosting domestic production of computer chips and helping the United States stay competitive with China.
The 64-33 vote represents a rare bipartisan victory a little more than three months before the crucial November midterms; 17 Republicans joined all Democrats in voting yes. The package, known as “CHIPS-plus,” now heads to the House, which is expected to pass it by the end of the week and send it to President Joe Biden for his signature.
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