The bill that Senate lawmakers are hoping to advance this week allocates $52 billion to spur domestic research and development of microchips and grants tax incentives for manufacturing.
July 25, 2022, 5:41 PMSen. Majority Leader Chuck Schumer during a news conference, June 22, 2022, in Washington, D.C.The Senate is aiming this week to bolster the public's ability to buy an affordable car, microwave or a smartphone as lawmakers push forward legislation to incentivize production ofA nationwide shortage of these chips has caused production delays, stalling out industries from automotive to medical and spurring already-punishing inflation rates.
Here are answers to a few key questions on the issue that impacts almost every piece of technology you touch. "Semiconductors, or 'chips' as we call them, are sort of the building blocks of any computer system," Morris Cohen, an emeritus professor of manufacturing and logistics in the Operations, Information and Decisions Department at the University of Pennsylvania's Wharton School, told ABC News in January.
. But the pandemic spurred challenges as more and more people rushed to acquire new technologies for communication that rely heavily on semiconductors. Supply-chain issues and COVID-era factory shutdowns made manufacturing of the chips even more difficult.This comes at a time when the U.S. is producing a smaller percentage of the world's microchips than ever before. According to thea lobbying group focused on semiconductor manufacturing, the U.S.
The proposal also includes funding for a few other innovation-based priorities; there are billions for tech startups and the National Science Foundation in the legislation as well. The Senate is scheduled to take another key vote on the bill on Tuesday morning and, if it clears, the package could be on a path for final approval as soon as Tuesday or Wednesday.
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