US and Chinese flags are seen in front of US dollar banknote featuring American founding father Benjamin Franklin and China's yuan note featuring Chinese chairman Mao Zedong.
The centerpiece of the bill is a $50 billion emergency allotment to the Commerce Department to stand up semiconductor development and manufacturing through research and incentive programmes previously authorised by Congress. "Whoever wins the race to the technologies of the future is going to be the global economic leader with profound consequences for foreign policy and national security as well."
While the bill enjoys bipartisan support, a core group of GOP senators has reservations about its costs.
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