Semiconductor Industry  

On Tuesday, Senate voted to introduce a long-awaited bill designed to boost United States semiconductor production to improve US competitiveness with China.

The bill will pass by the Senate this week. It must then be approved by the House of Representatives before it is delivered to President Joe Biden for signature.

The vote to break down the lawmaking filibuster was postponed after a serious East Coast thunderstorm upset some senators' travel plans.

This package, called "CHIPS-plus," contains approximately $52 billion in backing for a US company that makes computer chips.

If Senate is passed according to requirements, the House of Representatives will move on to legislate. Supporters of bill want Congress to pass it and send it to President Joe Biden for signature.

President Joe Biden urged Congress to "pass this bill as soon as possible" during the White House meeting.

The slimmer bill approved a motion for a preferential trial in a bipartisan vote of 64 to 34 last week.

Lawmakers are currently racing against the clock to set key priorities before departing Washington for the August summer vacation and returning to their home states and territories.

In addition to the tipping law, the Senate is also expected to act immediately to address exposure to toxic burns that harm veterans.