The Senate on Tuesday approved a bipartisan, $250 billion bills boosting government spending on technology research and development amid increasing competition from China and other nations.
The Bill passed 68-32. It won approval after being delayed just before the Senate’s Memorial Day recess, as some Republican lawmakers raised last-minute concerns regarding its magnitude and scope.
The legislation speaks for a potential landmark effort to turn the tide on a few long-term trends in US competitiveness. Those include eroding federal investments in research overall and a diminishing share of the world’s semiconductor manufacturing.