Senate To Debate $110B Tech Funding Bill To Outdo China

Law360 (May 14, 2021, 8:58 PM EDT) -- The U.S. Senate plans to move Monday toward passing a major $110 billion package to fund research and technology to hone the country's competitive edge against China, after lawmakers tacked on a raft of provisions including those opposing boycotts of Israel.

The 732-page bipartisan measure would pay for a cluster of new technology hubs and invest billions in chip production to tackle the global semiconductor shortage that increasingly threatens the growth of American high-tech industries.

Sponsored by Sens. Chuck Schumer, D-N.Y., and Todd Young, R-Ind., the bill cleared the Senate Commerce Committee in a marathon markup session Wednesday. A procedural vote...

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