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CHIPS AND SCIENCE ACT U.S. Congress passes legislation aimed at boosting U.S. semiconductor sector Updated: 2022-07-29 09:12:42 KST

The U.S. House of Representatives on Thursday passed bipartisan legislation to allocate billions of dollars for America's domestic semiconductor production and research.
It aims to boost the country's competitiveness against China.
The bill, which passed in the Senate a day earlier, now heads to the White House for President Joe Biden to sign into law.
The Chips and Science Act includes over 52 billion U.S. dollars for American companies that manufacture computer chips, as well as billions more in tax credits to encourage investment in the chipmaking industry.
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