I am a Texas native covering breaking news out of New York City. I was previously an editorial assistant at the Forbes London bureau. Follow me on Twitter @reporterfield.
A bill that would earmark billions in federal funds to boost U.S. semiconductor production amid a nationwide chip shortage passed a key Senate vote Tuesday morning, possibly clearing the way for the legislation to pass through the chamber and on to the House.in the U.S. Capitol on Tuesday, July 19, 2022.
It also features a 25% tax credit for U.S. semiconductor manufacturing investments, and $1.5 billion set aside for developing technology to help U.S. firms wean off their dependence on foreign telecommunications equipment.earlier this month if Democrats continued to pursue unrelated efforts to pass a package to fund their climate, tax and prescription drug priorities.
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