Shortages of microchips severely impact U.S. auto and other manufacturing.
A $52 billion proposal is set to be unveiled by a bipartisan group of Senators that would significantly boost domestic semiconductor chip production and research over five years.
Senators Mark Kelly, John Cornyn, Mark Warner, and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production shortages impacting automakers and other U.S. industries.
There is still a sticking point to iron out, but the microchip funding is expected to be included in a bill the Senate will take up next week to spend more than $10 billion on basic U.S. advanced technology research to better compete with China.
“There is an urgent need for our economic and national security to provide funding to swiftly implement these critical programs. The Chinese Communist Party is aggressively investing over $150 billion in semiconductor manufacturing so they can control this key technology,” a summary of the legislation says.
As the Lord Leads, Pray with Us…
- For discernment for members of Congress as support for semiconductor production within the U.S. is considered.
- For U.S. officials as they evaluate the need for other areas of technology and manufacturing to return to domestic production.
Sources: Reuters, Automotive News
