As the $79 billion chips bill moves through in the Senate, these are some of the details.
It’s been more than a year in the making, but Congress is now on the verge of enacting a package to ease the chip shortage and strengthen the US economy’s competitiveness with China.
Deliberations on the “CHIPS+” measure were ended by a vote of 64-32 in the Senate on Tuesday. In the next days, the final vote will be taken once this 60-vote threshold was met.
“Schumer called it “one of our century’s major worries.”
Chuck Schumer (D-NY), majority leader in the Senate, said that he hopes the move would assist “one of the most critical conflicts of this century” as the process got under way.
We’re calculating the charge. CBO predicts the measure will cost $79 billion over 10 years. The bill’s financial effect will be analyzed soon.
After enacting a more ambitious plan, lawmakers considered a “slimmed down” version with short-term semiconductor incentives. The bill was significantly higher than expected.
A senator from Arizona recently told Yahoo Finance that it “affects the prices for so many items” for Americans, including your telephone, vacuum cleaner, and government military systems.