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Senate’s Bipartisan Chips Bill Would Add $79 Billion to US Deficit

  • Bill is on track for votes next week in Senate, House
  • CBO scores bill, with spending estimated at $55 billion
Semiconductor Production at Globalfoundries Europe Plant
Photographer: Liesa Johannssen-Koppitz/Bloomberg

The US Senate’s bipartisan bill to strengthen the nation’s technology sector in the face of Chinese competition was estimated Thursday to increase US budget deficits by $79 billion over a decade if enacted.

The nonpartisan Congressional Budget Office’s scoring of the package is in line with expectations, and isn’t expected to impair its chances for passage -- even if it hardens opposition among conservatives touting deficit concerns. The Senate on Tuesday opened debate on the bill by a tally of 64 to 34.