A bill designed to encourage more companies to build semiconductor plants in the United States passed the Senate on Wednesday as lawmakers advance one of the priorities of President Joe Biden’s administration.
The $280 billion measure includes federal grants and tax breaks for companies building chip plants in the country.
The norm was approved by 64 votes in favor and 33 against. Now it goes to the House of Representatives, which will try to approve it this week before the legislative recess in August. House Speaker Nancy Pelosi has said she is confident she has enough support.
Supporters of the bill say other countries are spending billions of dollars to attract microprocessor makers and the US must do the same to secure supplies of conductors used in cars, computers, appliances and advanced weapons systems.
Senate Democratic Majority Leader Chuck Schumer said the project represents one of the largest investments in science and manufacturing in decades and that with approval in the upper house “the best years for America are coming.”
Opponents have criticized the cost of the measure, which is estimated to raise the federal deficit by about $79 billion over 10 years.
Biden said the project will create jobs and lower costs across a wide range of products, from cars to dishwashers.
“For decades, some ‘experts’ said we had to give up manufacturing in America. I never believed that. Manufacturing jobs are back,” Biden said Wednesday.
On Monday, Biden declared that semiconductors are “the building blocks of the modern economy” and called on Congress to pass the law quickly.
He added that the United States depends on Taiwan for the production of the most advanced chips and that China was also beginning to overtake the country in its manufacture.
“America invented the semiconductor,” Biden said. “It’s time to bring him back.”
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