House bill

U.S. House China Competitiveness and Chip Investment Bill Coming Soon – Pelosi

WASHINGTON, Jan 21 (Reuters) – The U.S. House of Representatives will soon introduce a bill aimed at increasing U.S. competitiveness with China and boosting federal spending on semiconductors, the U.S. said on Friday. President Nancy Pelosi as the Biden administration seeks to boost domestic chip production.

“The House will introduce its competitiveness bill soon,” she said in a memo to fellow Democrats.

The announcement came just hours after Intel Corp said it would invest more than $20 billion in two new chip fabs in Ohio in a massive manufacturing project that could receive funding. federally in the years to come. Read more

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President Joe Biden’s administration is pushing to persuade Congress to approve funding to help boost U.S. chip production as shortages of key components used in automobiles and computers have exacerbated supply bottlenecks. supply chain bottleneck.

“I want to see Congress pass this bill immediately and put it on my desk,” Biden said. “Let’s do this for the sake of our economic competitiveness and our national security.”

The Senate last year passed the U.S. Innovation and Competition Act, which provides $52 billion to increase U.S. semiconductor production and authorizes $190 billion to bolster U.S. technology and research to compete with China.

“The House legislation will increase our investments in chips, strengthen our supply chain and transform our research capability, along with many other key provisions,” Pelosi said in a letter to fellow Democrats.

Biden said earlier in the week that soaring inflation had “everything to do with the supply chain” and that the United States had the ability to become self-sufficient on the computer chips it needed to make devices. automobiles.

The administration has made efforts to alleviate the chip shortage, including meeting with industry leaders and allies to discuss the topic and launching a Commerce Department study to identify bottlenecks and other problems.

Biden touted the Intel investment on Friday at a White House event with the chip company’s CEO Pat Gelsinger and argued for congressional action.

Gelsinger said in an interview with Reuters ahead of the White House press conference that without government funding “we’re still going to launch the Ohio site. It just won’t happen as fast and it won’t grow as quick”.

Intel’s initial $20 billion investment — the largest in Ohio history — in a 1,000-acre site in New Albany will generate 3,000 jobs, Gelsinger said. It could reach $100 billion with eight manufacturing plants in total and is the biggest investment in Ohio’s history, he told Reuters. Read more

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Reporting by Chris Gallagher; edited by Jonathan Oatis and Alistair Bell

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