Republicans warm to $52B computer chip bill, adding momentum

WASHINGTON: Key Republicans are warming up to passing a bill that provides roughly $52 billion in incentives for the semiconductor industry now that Sen. Joe Manchin of West Virginia has quashed the idea of imposing higher taxes on the rich and corporations as part of a separate Democratic-only effort.

Three weeks ago, the computer chips bill looked like it could be in trouble despite having bipartisan support. That’s when Senate Republican leader Mitch McConnell said there would be no such bill as long as Democrats pursued what he called a “partisan reconciliation bill.” But Manchin’s decision to dramatically narrow the Democratic effort and axe the tax hikes appears to have opened the window for Republican cooperation on semiconductors.