Senate passes $250 billion bipartisan tech and manufacturing bill aimed at countering China
PUBLISHED TUE, JUN 8 20216:36 PM EDTUPDATED 8 MIN AGO Thomas Franck @TOMWFRANCK
KEY POINTS
The Senate on Tuesday passed the U.S. Innovation and Competition Act, a $250 billion bill aimed at countering China’s technological ambitions.
The scope of the bill, the final product of at least six Senate committees and almost all members of the chamber, could be one of the last major bipartisan bills of 2021.
Among its many provisions, the bill provides $52 billion to fund the semiconductor research, design, and manufacturing initiatives.
President Joe Biden applauded the bill’s passage: “As other countries continue to invest in their own research and development, we cannot risk falling behind.”
Market Data 
Markets 
AI
