Senate Majority Leader Chuck Schumer called the bill a “once-in-a-generation investment in American science and American technology.” | AP Photo/J. Scott ApplewhiteThe Senate voted on Monday to advance a broad bipartisan effort to counter China’s economic and geopolitical ambitions, though negotiators are still hammering out critical details of the legislation.
The final product could pass the Senate before June and would represent the culmination of a two-month effort by Senate committees, at Schumer’s direction, to draw up bipartisan legislation aimed at out-competing China. The nascent agreement is also aSchumer called the bill a “once-in-a-generation investment in American science and American technology.”
The final legislation is likely to include bipartisan bills to boost semiconductor manufacturing, push back against China’s theft of U.S. intellectual property, and confront Beijing’s threats to U.S. national security, among others. Aides said they expect the Senate to wrap up its work on the effort by Memorial Day.
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