Salem Radio Network News Thursday, December 2, 2021

Business

U.S. lawmakers urge speedy action on U.S semiconductor chips funding

WASHINGTON (Reuters) – A bipartisan group of 38 U.S. House lawmakers on Thursday urged leaders in Congress to immediately set a path to advance legislation providing $52 billion for U.S. semiconductor production including $2 billion in support for chips used by the automotive industry.

The U.S. Senate voted 68-32 in June to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology, including providing $52 billion for chips, but the measure has stalled in the House.

The House lawmakers in a letter warned of the “dire consequences the automotive industry as a whole—and the nation—faces if we fail to advance legislation soon.”

(Reporting by David Shepardson)

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