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Senate Sets Up $52 Billion Semiconductor Vote

July 26, 2022

A $52 billion boost to the U.S. domestic semiconductor industry moved one step closer to reality July 26 when the Senate advanced legislation providing grants, incentives and tax breaks to the sector and set it up for final passage this week.

“It’s a major step for our economic security, our national security, our supply chains and, in fact, for America’s future,” Senate Majority Leader Chuck Schumer said July 26 on the Senate floor before a procedural vote on the bill. “With this bill we will reawaken the spirit of discovery, innovation, invention and optimism that made America the envy of the world.”

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