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Home » Market Update » U.S. Senate approves $52B for chip R&D

Domestic U.S. chip research and manufacturing moves one step closer to a $52 billion boost after the Senate approved the landmark legislation U.S. Innovation and Competition Act this week, reports EETimes.

Reflecting the urgency wrought by disrupted IC supply chains and resulting chip shortages, the Senate’s “emergency supplemental appropriations” include $49.5 billion allocated over five years to implement Commerce Department semiconductor initiatives, reports EETimes. The lion’s share of that funding is designated for industry incentive programs designed to stimulate chip R&D in areas such as advanced packaging.

After being voted through by 68-32, the bill now moves to the House of Representatives for further discussion.

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