Jul 28, 2022 04:03 PM

Chipmakers Get $52 Billion in Senate Bill in Big Win for Biden

Photo: VCG
Photo: VCG

(Bloomberg) — The U.S. Senate on Wednesday passed legislation that includes $52 billion in grants and incentives for semiconductor manufacturing, an industry that has steadily lost ground to foreign competitors in recent years.

The 64 to 33 vote comes after more than a year of debate and marks a major legislative victory for President Joe Biden, whose agenda has largely stalled in the Senate, where 60 votes are required to pass most legislation.

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