Senate votes in favor of multi-billion dollar semiconductor bill, sets up final negotiations

The Senate on Monday night voted on stalled, bipartisan legislation to provide billions of dollars for high-tech research and production that would make the U.S. less dependent on computer chips from China, which became in short supply during pandemic-related supply chain problems and escalated the cost of automobiles and other goods.

The vote was on Senate version of the House's America Competes bill that passed earlier this year and is expected to bring together negotiators from both chambers as early as next week, according to Agency France Press.  

A final Capitol Hill vote could come as early as May or June, the wire service also reports.

Senate Majority Leader Chuck Schumer said final passage of the roughly $52 billion measure will help lower consumer costs in the United States by “making it easier to produce critical technologies here at home, like semiconductors. It will create more jobs by bringing manufacturing back from overseas.”

The Senate passed a China competition bill with chip funding last summer. The Democrat-led House in February passed its 2,900-page version mostly along party lines with Republicans arguing it wasn’t tough enough on China and that it was overly focused on unrelated issues like climate change and social inequality.