The US Senate voted 68-32 to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology.
The US Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology. The desire for a hard line in dealings with China is one of the few bipartisan sentiments in the deeply divided US Congress, which is narrowly controlled by President Joe Biden’s fellow Democrats. The measure authorises about $190 billion (roughly Rs.13,84,980 crores) for provisions to strengthen US technology and research – and would separately approve spending $54 billion (roughly Rs.3,93,690 crores) to increase US production and research into semiconductors and telecommunications equipment, including $2 billion (roughly Rs.14,580 crores) dedicated to chips used by automakers that have seen massive shortages and made significant production cuts. The bill must pass the House of Representatives to be sent to the White House for Biden to sign into law. It is not clear what legislation in the House will look like or when it might take it up.
