House passes CHIPS Act, preparing semiconductor bill to become law
the CHIPS and Science Act in a 243-187-1 vote, leaving just the reconciliation process and President Biden's signature before the bill becomes law. The equivalent Senate measure passed 64-33 in a vote one day earlier., but promises significant help for American semiconductor manufacturing. It offers more than $52 billion for US chipmakers as well as tax credits for domestic factories.
Earlier approaches drew objections from both sides of Congress. Republicans were concerned the reconciliation bill would include unrelated climate, health and tax elements. They also said it risked funding Chinese manufacturing. Independent Senator Bernie Sanders, meanwhile, has expressed concerns the bill might reward chip manufacturers already rolling in cash, and was the only non-Republican in the Senate to vote against it.
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