US House Bill on Chip Investment, China Competitiveness Coming Soon: Nancy Pelosi

President Joe Biden’s administration is pushing to persuade Congress to approve funding to help boost chip production in the US, as shortages of the key components used in autos and computers have exacerbated supply chain bottlenecks.

“I want to see Congress pass this bill right away and get it to my desk,” Biden said. “Let’s do it for the sake of our economic competitiveness and our national security.”

“The House legislation will supercharge our investment in chips, strengthen our supply chain and transform our research capacity, plus many other key provisions,” Pelosi said in a letter to Democratic colleagues.

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