News Formal

U.S. Senate votes to advance sweeping semiconductor industry bill

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 92%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

U.S. Senate voted 64-32 on Tuesday to advance legislation providing about $52-billion in government subsidies for U.S. semiconductor production

The U.S. Senate voted 64-32 on Tuesday to advance legislation to dramatically boost U.S. semiconductor manufacturing in a bid to make the domestic industry more competitive with China.

President Joe Biden and others have cast the issue in national security terms, saying it is essential to ensure U.S. production of chips that are crucial to a wide range of consumer goods and military equipment. “The pandemic made clear with unforgiving clarity how America’s chip shortage was creating a crisis,” the Senate’s Democratic majority leader, Chuck Schumer said before the vote.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Walmart profit warning hammers retail stocksIndustry bellwether stokes fears in struggling sector A warning flag of the next recession
Source: globeandmail - 🏆 5. / 92 Read more »