China Competition Bill Inches Ahead in Congress as Midterms Loom
- Senate, House conference committee has yet to meet on bill
- Legislation calls for more than $50 billion for chip industry
Senate Majority Leader Chuck Schumer.
Photographer: Al Drago/BloombergThis article is for subscribers only.
A bill that would aid the U.S. domestic semiconductor industry and bolster competitiveness with China inched forward in Congress as lawmakers race to complete negotiations before the midterm elections scuttle their hopes of delivering a bipartisan win.
Senate Majority Leader Chuck Schumer Wednesday night locked in a series of procedural moves that begin the formal conference process with the House so the two chambers can reconcile their different versions of the bill. Final passage of the legislation remains months off, according to a person familiar with the matter, but Schumer’s actions do advance the measure.