US Senate passes sweeping bill to boost the country’s ability to compete with Chinese technology

US Senate
US Senate

The US Senate on passed a sweeping industrial policy bill aimed at countering a surging economic threat from rival China, overcoming partisan divisions to support pumping more than $170 billion into research and development.

The bipartisan measure authorizes about $190 billion for provisions to strengthen U.S. technology and research — and would separately approve spending about $50 billion to increase U.S. production and research into semiconductors and telecommunications equipment. The bill must also pass the House of Representatives to be sent to the White House for President Joe Biden to sign into law.

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