The House vote is expected later this week as lawmakers try to wrap up business before returning to their home states and districts in August
. House Speaker Nancy Pelosi, D-Calif., has said she is confident there is enough GOP support to overcome potential defections from Democrats who view the subsidy effort to boost semiconductor companies as a misplaced priority.
Senate Majority Leader Chuck Schumer, D-N.Y., said the bill represented one of the nation’s largest investments in science and manufacturing in decades and that with the Senate’s approval, “we say that America’s best years are yet to come.” President Joe Biden said the bill would create jobs and lower costs on a wide range of products from cars to dishwashers.
The bill has been in the works for years, starting with efforts by Schumer and Sen. Todd Young, R-Ind., to increase the government’s investment in high tech research and development. While the bill has taken several twists and turns, one constant theme that lawmakers repeatedly emphasized during Wednesday’s debate was the need to keep up with China’s massive investments in cutting-edge technology.
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