US lawmakers scrap formal records and China law talks

US lawmakers scrap formal records and China law talks

The Senate passed its version of the bill in June 2021, while the House passed a similar bill in February. More than 100 House and Senate lawmakers have been named to a “conference committee” that will meet for the first time Thursday. Congressional aides said it could still take months before a final agreement is reached.

Individuals from Congress will meet Thursday to open negotiations on a compromise measure that would finance $52 billion in semiconductor manufacturing subsidies and lift U.S. competitiveness with Chinese innovation, a source told Reuters. A persistent shortage of chips has disturbed the automotive and electronics industries, constraining a few firms to downsize creation. On Wednesday, the Senate made multiple dozen motions to instruct negotiators on a range of issues.

“It’s crazy it’s taken this long,” Senator Mark Warner told Reuters on Thursday. He noted that since the United States began considering incentives, other countries like Germany have announced and finalized new chips incentives.

Warner said some major investments in new U.S. chip production could be jeopardized without action from Congress.

Although the motions were not binding, they convey a sense of what senators would like to see in the final bill and what could keep it from getting enough votes to become law.

The Senate bill approved in June had $52 billion for chips and authorized another $200 billion to boost U.S. scientific and technological innovation, but then stalled in the House.

The House passed a version in February that had $52 billion in chips funding but significant differences on other science and technology provisions.

That measure included a number of trade proposals not in the Senate bill. The House bill would also impose additional sanctions on China for its treatment of Uyghurs.

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