The proposals seek a variety of measures to addressing the United States’ competitiveness with China on a variety of problems, including trade and certain environment concerns.
Senator Maria Cantwell, chair of the Senate Commerce Committee, said the vote was critical to “getting us to genuine discussions.”
Jen Psaki, the White House spokesperson, said the Senate decision was another move “to bolster our supply chains, increase manufacturing in America, and maintain a competitive edge over China and the rest of the globe for decades to come. We look forward to the House of Representatives resuming the official conference process as promptly as possible.”
According to a senior Democratic aide, the House is expected to take up the proposal and reintroduce it to the Senate as early as later this week. The Senate will need to approve once again to authorise the conference’s convening. A final deal might take till the summer.
Independent Senator Bernie Sanders blasted the $52 billion in subsidies, describing it as “corporate greed,” and arguing that taxpayers should receive warrants or shares in lucrative semiconductor companies in exchange for subsidies.
“These firms’ financial benefits must be shared with the American public, not just affluent shareholders,” Sanders stated.
US Commerce Secretary Gina Raimondo observed that the US manufactured roughly 40% of all chips two decades ago but now accounts for only 12% of worldwide output. The Senate decision brought the United States “one step closer to reviving American semiconductor industry, protecting essential supply chains, and returning high-quality manufacturing jobs home.”
General Motors announced on Friday that it will halt production at a pickup factory in Indiana for two weeks in April due to the chip shortage.