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Momentum Grows in Congress for Legislation Confronting China

  • Cornyn will push for U.S. chip manufacturing amid shortage
  • Schumer aims to get Senate vote on package next month
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WATCH: The U.S. is moving with increasing urgency on bipartisan legislation to confront China with the Senate poised to act within weeks on a package of bills. (Source: Bloomberg)
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Congress is moving with increasing urgency on bipartisan legislation to confront China and bolster U.S. competitiveness in technology and critical manufacturing with the Senate poised to act within weeks on a package of bills.

As part of the package, Senator John Cornyn, a Texas Republican, plans to push for incentives to strengthen domestic semiconductor manufacturing through his CHIPS for America legislation, according to a person familiar with the matter. The bill became law earlier this year but was never funded. President Joe Biden has called for as much as $50 billion for the initiative.