The legislation provides about US$52 billion in subsidies for US semiconductor production as well as an investment tax credit for chip plants estimated to be worth US$24 billion.
The Senate is expected to vote on final passage in coming days and the US House could follow suit as soon as later this week.
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US Senate votes to advance sweeping semiconductor industry billWASHINGTON : The U.S. Senate voted 64-32 on Tuesday to advance legislation to boost U.S. semiconductor manufacturing to address concerns about competition with China.The legislation provides about $52 billion in subsidies for U.S. semiconductor production as well as an investment tax credit for chip plant
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SK Group US$22 billion US investment to create secure supply chains: White HouseWASHINGTON : New investments by South Korean conglomerate SK Group in the United States announced on Tuesday is an example of successful efforts by the Biden administration to create more resilient and secure supply chains, the White House said on Tuesday. South Korea's second-largest conglomerate was expe
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