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Senate Republican Leader Mitch McConnell threatened last week to
try to block the bill that would provide $52 billion to
subsidize U.S. semiconductor manufacturing and boost U.S.
competitiveness with China if Democrats move forward with a
social spending and climate bill.
The briefing planned for Wednesday from the Biden administration
will focus "on the global innovation and technology race and the
bipartisan innovation bill which is vital for America’s
long-term national security."
White House spokeswoman Karine Jean-Pierre said Wednesday the
Biden administration wants Congress to move quickly, noting
Intel Corp announced it will invest $20 billion to open
semiconductor factories in Ohio "and that could expand to as
much as $100 billion" if Congress passes chips subsidies.
The Senate legislation, passed in June 2021, included $52
billion for chips subsidies and authorized another $200 billion
to boost U.S. scientific and technological innovation to compete
with China.
The House version, passed in February, is similar but nearly
3,000 pages long and includes a number of trade proposals not in
the Senate bill. Many House provisions are expected to be
dropped.
Some fear Congress will not be able to reach a deal before the
November congressional elections if it does not come to an
agreement in the coming weeks.
A persistent shortage of chips has disrupted the automotive and
electronics industries, forcing some companies to scale back
production. Commerce Secretary Gina Raimondo, who has been
making calls in recent days to try to advance the bill, and many
companies think the shortage will last at least until late 2023
if not longer.
Lawmakers warn some major investments in new U.S. chip
production could be jeopardized without action from Congress.
(Reporting by David Shepardson; Editing by Sandra Maler and Kim
Coghill)
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