Pelosi Backs Senate Semiconductor Bill Designed to Bolster US-China Competition
- Move boosts chances of $52 billion in funds for chipmakers
- Congress was deadlocked for one year on China competition bill
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House Speaker Nancy Pelosi backed a compromise Senate bill that provides subsidies for the semiconductor industry, and said she plans for a House vote on it as soon as next week.
With her Wednesday statement of support for the Senate bill, which funnels $52 billion to chipmakers, Pelosi signals a close to a yearlong deadlock between the House and Senate on a legislative package designed to bolster US competition against China. Her backing greatly boosts chances of passage before the August congressional recess.