Connect with us

Hi, what are you looking for?

Politics

U.S. Senate mulls $30 billion in funding to boost chipmaking sector, source says

Technology6 minutes ago (Mar 04, 2021 01:05PM ET)

(C) Reuters. FILE PHOTO: U.S. President Biden holds a semiconductor chip

By Alexandra Alper

WASHINGTON (Reuters) – The U.S. Senate is considering including $30 billion in funding for a previously approved package of measures aimed at supercharging the country’s chipmaking industry, a congressional source involved in the effort said on Thursday.

Lawmakers would seek to bring the package, which would include other elements aimed at countering China and boosting the U.S. tech sector, to a full vote in April, the person said, declining to be named because the legislation has not been finalized.

Senate Majority Leader Chuck Schumer said last month he had directed lawmakers to craft the legislation to counter China’s economic rise, capitalizing on bipartisan hardline support in Congress to counter alleged unfair practices by Beijing.

The bill would be based on legislation Schumer and Republican Senator Todd Young proposed last year that seeks funding of $100 billion to spur research in key tech areas, from artificial intelligence to quantum computing and semiconductors.

Schumer’s office also said the package could be used to provide emergency funding to implement the bipartisan semiconductor programs included in last year’s National Defense Authorization Act, but which still lack funding.

Some U.S. automakers have slowed production due to a shortage of semiconductor chips, which are scarce in part due to a consumer-driven boom in demand for cell phones and computers during the coronavirus pandemic.

U.S. Senate mulls $30 billion in funding to boost chipmaking sector, source says

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: Wisegazette.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Wise Gazette. All Rights Reserved