A key House committee on Tuesday made amendments to bipartisan legislation that aims to boost American science and technology programs and counter China’s growing influence, with the action coming after the Senate last week voted 68-32 in favor of a related bill.
Over in the Senate, the $250 billion bill approved last week is known as the U.S. Innovation and Competition Act, and it provides $52 billion for the semiconductor industry SMH, -0.86% SOXX, -0.82% and incorporates an earlier bipartisan measure known as the Endless Frontier Act. Meanwhile, the panel’s chairwoman, Democratic Rep. Eddie Bernice Johnson of Texas, stressed that she favored the House legislation over other approaches.
It’s “theoretically doable” that other House committees that have jurisdiction on these issues will do their work “in the next two months before the August recess,” analysts at Capital Alpha Partners said in a recent note.
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