The objective is stronger competition with China.
With a large bipartisan majority, the Senate on Wednesday passed a $280 billion bill to subsidize the domestic microchip manufacturing industry and provide tens of billions of dollars for scientific research to keep the nation’s technological edge in the global economy.
This vote concludes more than a year of negotiations over the legislation, which stalled for months in the House because of objections to trade-related and other provisions in the bill, such as language to provide security safeguards for technological research.
This new bill is expected to have enough votes to pass the House. It would support the nation’s high-tech manufacturing industry and is designed to reduce America’s reliance on Chinese and other foreign-manufactured chips in military hardware and other products.
Senate Majority Leader Chuck Schumer of New York said, “We will look back on history and say this was a time when America really realized its responsibility to stay the leading economic and national security power in the world. It’s a very, very significant bill.”
As the Lord Leads, Pray with Us…
- For members of the House as they consider and vote on the microchip legislation.
- For senators as they consider and negotiate upcoming legislation.
- That the president and his advisors seek God’s guidance as they implement manufacturing policies.
Sources: The Hill, Forbes, CNN
