$ 1.9 trillion economic support package accepted by the US Senate

US Senate approves technology competition bill with China

The bill, which was approved with 68 “yes” votes against 32 “no” votes in the vote in the US Senate, will also be voted in the House of Representatives before going to President Joe Biden’s desk.

The fact that the bill, which has been waiting in the US Senate for weeks, is passed with the contributions of Republican senators, is considered an important indicator that Democrats and Republicans can come together to compete with China.

The draft, which was prepared in order for the USA to gain superiority in its competition with China in the technological field, allocates 190 billion dollars for technological infrastructure and R&D investments, and envisages a budget of 54 billion dollars for the production of semiconductors.

While it is emphasized that 2 billion dollars of the 54 billion dollars budget is reserved for the production of chips used in automobiles and which have had serious problems in their production for a while, it is stated that the said technological package will pave the way for new investments in many areas.

Biden, on the other hand, in his written statement regarding the passing of the bill, whose next stop is the House of Representatives, stated that this is a very important package and he is looking forward to signing it.

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