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US House approves Chips Act to subsidise and speed up semiconductor production

July 29, 2022
Source: scmp.com scmp.com
News Snapshot:
The US House of Representatives gave a final stamp of approval on billions of dollars in new funding for the US semiconductor industry on Thursday, putting a key component of Washington’s efforts to out-compete China on the verge of becoming law. The House passage came just one day after the Senate cleared the bill on Wednesday with a bipartisan vote of 64-33. The House vote was 243 to 187, with 24 Republicans voting in favour and one Democrat voting “present”. The legislation, known as the Chips and Science Act, will now go to US President Joe Biden’s desk to be...
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