COMPETES Act Makes Its Way Through Congress

Congress is working on a bill that would help boost American chip production. It’s part of the COMPETES Act, a major bill that lawmakers say would help America compete with China.

It passed the Senate this week and is heading back to the House for revision, before going to the president’s desk.

The multi-billion-dollar bill was initially designed to support the U.S. tech industry, especially the semiconductor sector.

Supporters of the bill say it’ll promote American innovation in areas like 5-G and artificial intelligence, creating jobs and lowering costs for Americans.

But some lawmakers say it’s not tough enough on China, and it also includes items not related to China like funding for climate projects and labor unions.

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