Senate Panel Advances Bill to Counter China in Bipartisan Vote
- Legislation would plow billions of dollars into research
- Lawmakers face much bigger challenges on other spending
Senate Majority Leader Chuck Schumer, on Capitol Hill in Washington, D.C., on May 11.
Photographer: Al Drago/BloombergThis article is for subscribers only.
The Senate Commerce Committee advanced legislation aimed at ramping up federal support for U.S. research and development in the aim of better competing with China.
The package of legislation the committee sent to the full Senate on an 24-4 vote is framed around a $100 billion, five-year injection to American colleges, universities and other research institutions to bolster domestic research and development. It also has $10 billion for regional technology hubs.