Semiconductor production legislation passes in the Senate
Biden Administration officials are praising Senate passage of legislation designed to increase U.S. production of semiconductor chips.
There's been a shortage of the chips since the pandemic began.
The chips are a vital part of everything from military weapons to video games. They’ve been in high-demand during the pandemic.
But most are produced in China and other countries outside the U.S.
The Senate wants to change that by providing more than 50 billion dollars plus tax credits to convince U.S. companies to increase domestic chip production.
Following an event in Detroit, U.S. Labor Secretary Marty Walsh said the move could also aid the nation’s economy. "It won’t necessarily address the issue of inflation tomorrow. But it is about down the road, that we’re less dependent on foreign imparts," he said.
The U.S. House must still approve the measure before it goes to President Biden for his signature.