The Senate Passes This $280 Billion Bill

The Senate has passed The Chips and Science Act of 2022 bill in a 64-33 vote. 17 Republicans joined the Democrats to pass the bill to the House. The bill provides $50 billion in funding for the domestic production of semiconductor chips. In an interview, Senator Chuck Schumer said, “In the 1970s and 80s, our companies could do just fine on their own. But in the 21st century, with countries like China and Germany investing heavily, we could sit back on the sidelines, and who would lose out? American workers, American economic dominance, and our national security.” The bill also provides significant funding for the National Science Foundation and the Department of Energy.