The Senate is poised to pass a bipartisan bill that would provide $52 billion in subsidies to domestic semiconductor manufacturers. The bill would also invest billions in science and technology innovation. If the Senate passes the legislation Wednesday as expected, it would then move to the House, where Speaker Nancy Pelosi has said it has the support for passage. President Biden has called for Congress to get the bill to his desk by the end of the week. The White House has also pointed to the semiconductor chip shortage as a national security issue. A shortage of semiconductor chips during the coronavirus pandemic has caused price hikes and supply-chain issues in several industries, including medical equipment and military weapons. The U.S. used to make 40 percent of the world
On Tuesday, the Senate voted 64-32 to limit debate and move the “Chips and Science” bill toward a final vote. The Senate’s advancement of the bill Tuesday came after months of debate and setbacks. Several key Republican senators still voted no, including retiring Sens. Richard C. Shelby (Ala.) and Patrick J. Toomey (Pa.) Sen. Tommy Tuberville (R-Ala) also voted no.