Senate Minority Leader Mitch McConnell, R-Ky., heads to the chamber for the final vote on a $280 billion bill designed to boost the U.S.
semiconductor industry and to accelerate high tech research that backers say will be critical to the economy in future decades, at the Capitol in Washington, Wednesday, July 27, 2022. A bill designed to encourage more semiconductor companies to build chip plants in the United States passed the Senate on Wednesday as lawmakers raced to finish work on a key priority of the Biden administration.
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."
"For decades, some `experts' said we needed to give up on manufacturing in America. I never believed that. Manufacturing jobs are back," Biden said. "Thanks to this bill, we are going to have even more of them. The House should promptly pass it and send this bill to my desk."
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