/cloudfront-us-east-2.images.arcpublishing.com/reuters/PXSDJSQOUZL2XGYG3FYBXCE2QE.jpg "U.S. congressional leaders assembly on semiconductor chips invoice Tuesday")
U.S. congressional leaders assembly on semiconductor chips invoice Tuesday
WASHINGTON, June 21 (Reuters) – U.S. congressional leaders sought to forge a $52 billion bipartisan deal on Tuesday to subsidize U.S. semiconductor manufacturing and enhance U.S. competitiveness with Chinese know-how.
House Speaker Nancy Pelosi, Senate Majority Leader Chuck Schumer, each Democrats, met with House Republican Leader Kevin McCarthy and Senate Republican Leader Mitch McConnell to attempt to hammer out a compromise.
“We’re engaged on it now,” Schumer mentioned as he headed into the assembly. A persistent scarcity of chips has disrupted the automotive and electronics industries, forcing some companies to reduce manufacturing.
The two chambers have handed related payments however key variations have to be resolved.
The Senate laws, handed in June 2021, included $52 billion for chips subsidies and licensed one other $200 billion to spice up U.S. scientific and technological innovation to compete with China.
The House model, handed in February, is sort of 3,000 pages lengthy and contains a variety of commerce proposals not within the Senate invoice. Some House provisions are prone to be eliminated for lack of approval within the Senate, officers say.