WASHINGTON (Reuters) – U.S. House of Representatives leaders are set to unveil as soon as later on Tuesday a bill to increase U.S. competitiveness with China and boost federal spending on semiconductors, aides told Reuters.
President Joe Biden’s administration is pushing to persuade Congress to approve funding to help boost chip production in the United States, as shortages of the key components used in autos and computers have exacerbated supply chain bottlenecks.
The Senate passed the U.S. Innovation and Competition Act last year, which includes $52 billion to increase U.S. semiconductor production and authorizes $190 billion to strengthen U.S. technology and research to compete with China.
(Reporting by Patricia Zengerle and David Shepardson)