Senate passes bill to boost US technology industry, counter rivals

The Senate overwhelmingly approved a bill Tuesday that aims to boost US semiconductor production and the development of artificial intelligence and other technology in the face of growing international competition, most notably from China.

The 68-32 vote for the bill demonstrates how confronting China economically is an issue that unites both parties in Congress. That’s a rarity in an era of division as pressure grows on Democrats to change Senate rules to push past Republican opposition and gridlock.

The centerpiece of the bill is a USD 50 billion emergency allotment to the Commerce Department to stand up semiconductor development and manufacturing through research and incentive programs previously authorized by Congress.