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Senate Passes China Competition Bill to Start Talks With House

  • Passage a key step toward negotiating compromise legislation
  • Both chambers back $52 billion to aid chip manufacturing
The U.S. Capitol in Washington, D.C.

The U.S. Capitol in Washington, D.C.

Photographer: Al Drago/Bloomberg
Updated on

The Senate Monday passed its version of a long-stalled bill to aid the domestic semiconductor industry and bolster U.S. competitiveness with China, a key step needed to kick off negotiations with the House on final legislation.

The Senate voted 68-28 for the plan, which includes $52 billion in grants and incentives to bolster chip manufacturing as well as provisions aiming to jump-start innovation and bring key industries back to the U.S. amid a global supply chain crunch.