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.
