06/09/2021

Senate Overwhelmingly Passes Bill to Bolster Competitiveness With China

The wide margin of support reflected a sense of urgency among lawmakers

The Senate overwhelmingly passed legislation on Tuesday that would pour nearly a quarter-trillion dollars over the next five years into scientific research and development to bolster competitiveness against China.

Republicans and Democrats — overcoming their traditional partisan differences over economic policy — banded together to endorse what would be the most significant government intervention in industrial policy in decades. It includes federal investments in a slew of emerging technologies as well as the semiconductor industry.

The 68-32 vote reflected the sense of urgency about the need to counter Beijing and other authoritarian governments that have poured substantial resources into bolstering their industrial and technological strength.

Please select this link to read the complete article from The New York Times.