WASHINGTON (Reuters) – The US Senate on Wednesday approved a massive bill to subsidize the semiconductor industry, hoping it will allow US companies to compete with China and reduce recurring chip shortages that have affected a number of sectors such as the automotive industry.
The House of Representatives is expected to vote on the text this week to send it to President Joe Biden for release.
The text provides for about $52 billion (€51.24 billion) in subsidies for U.S. semiconductor manufacturing, as well as a $24 billion tax credit for investment in chip factories.
In addition, it authorizes more than $170 billion over five years to help US scientific research to better compete with China – but to implement this measure, Congress will need to vote on separate texts.
(Report by Patricia Zengerle, David Shepardson and Richard Cowan; French version by Jean Tertian, edited by Mathieu Protard)