TSM - Tech bill challenging China's rise advances in U.S. Senate

Boosting U.S. economic competitiveness and confronting China's rise is going hand-and-hand again as the U.S. Senate moves toward passing the U.S. Innovation and Competition Act of 2021 ((USICA)). The bill would sink more than $100B into U.S. research and development and provide $52B to advance domestic semiconductor manufacturing. It also includes a wide range of measures directly targeting China, such as its human rights record, a day after a Beijing-drafted resolution effectively ended open elections in Hong Kong.The latest? Taking on China is a rare area of bipartisan support, but some hurdles to the bill's passage remain in the House, as well as a series of amendments under consideration. The Senate has already voted on 18 revisions, 14 of them from GOP senators, but Majority Leader Chuck Schumer still hopes to pass USICA before senators leave Washington for the holiday weekend. President Biden is also ready to sign the bill

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Tech bill challenging China's rise advances in U.S. Senate