The Senate on Tuesday evening passed a bipartisan bill to invest $250 billion toward technology research and development efforts to better compete with China, to include more than $50 billion aimed at bolstering domestic semiconductor production. Senate Majority Leader Chuck Schumer (D-N.Y.), who co-sponsored the U.S. Innovation and Competition Act (USICA) along with Sen. Todd Young (R-Ind.), urged the House on Wednesday to consider the legislation quickly, while companion legislation has yet to advance and a pair of separate bills have been introduced out of two House committees.
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