Senate Passes Bill to Fortify U.S. in Technology and Economic Competition With China
Highlights
U.S. Senate passes the U.S. Innovation and Competition Act (USICA) in order to fortify competition with China, which provides $200 billion in specified funding
The crux of the bill is the Endless Frontier Act, which authorizes $81 billion to the National Science Foundation and $17 billion to the Department of Energy to support research and development across key technologies
Additionally, the House Science Committee marked up the National Science Foundation for the Future Act and the Department of Energy Science for the Future Act to further such efforts
On June 8, the U.S. Senate passed the U.S. Innovation and Competition Act (USICA). The bill contains trade provisions, economic incentives, and approximately $200 billion in funding for U.S. semiconductors and telecommunications system development, production and scientific research.
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