Washington—A Bipartisan Bill subsidizing domestic semiconductor production It cleared its first procedural hurdle in a 64-34 vote on Tuesday, even though the details of the legislation were still being worked out.
The legislation would provide about $52 billion in subsidies to encourage chip companies to ramp up production in the US, seen by the White House and leaders on both sides as an important national-security need. Lawmakers worked until late Tuesday to negotiate other elements in a competitiveness package called USICA.