The Los Angeles Post

Semiconductor bill pushed forward

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he Senate voted 64-32 on Tuesday to advance legislation to provide $52 billion to the domestic semiconductor industry, $81 billion to the National Science Foundation and a 25 percent investment tax credit for semiconductor manufacturing.

 

The vote brings the semiconductor bill closer to the finish line after more than a year of negotiations.

  • The Senate passed the first version of the legislation in June of last year, but it stalled after House Democrats objected to several of its provisions, and conference negotiations between the two chambers had bogged down in recent weeks.
  • Senate Majority Leader Charles Schumer (D-N.Y.) saved the bill by dropping several provisions objected to by the House, including a package of trade provisions negotiated by Senate Finance Committee Chairman Ron Wyden
    (D-Ore.) and Sen. Mike Crapo (R-Idaho) last year.