A bipartisan bill to bolster domestic Semiconductor manufacturing and boost U.S. competitiveness with China has cleared a key Senate vote.
The so-called cloture vote to break the legislative filibuster was supposed to be held on Monday evening, but was delayed due to the storms on the East Coast.
The vote was 64-33.
Schumer wants lawmakers to finish the legislation quickly.
A tax credit for investment in chip manufacturing is included in the package. Funding is provided to spur the development of other U.S. technologies.
The legislation will be taken up by the House if the Senate passes it. If Congress passes the bill, it will be sent to the president for his signature before the August recess.
The legislation is important for U.S. interests in a world that is increasingly dependent on technology. The bill could help counteract the effects of a global chip shortage by putting the U.S. on a more competitive footing with China.
America's invention of the Semiconductor. During a meeting at the White House on Monday, Biden said it was time to bring it back. The president, who tested positive for Covid, was present in person.
Biden urged Congress to pass the legislation as soon as possible.
The legislation that was stewing in the House and Senate was called CHIPS-plus. Republicans threatened the larger measure earlier this month.
In a bipartisan vote, the slimmer bill passed an early procedural motion.
The votes came as Sen. Joe Manchin, D-W.V., and Sen. Lisa Murkowski, R-Alaska, both said they tested positive for Covid. Both senators said they will work from home, but Senate rules require them to cast their votes in person.
Their diagnoses are not expected to derail the Senate's efforts to pass CHIPS-plus, but could impede Democrats' other legislative goals.
Congress should act now according to the Biden administration.
In Monday's meeting with Biden, national security advisor Jake Sullivan warned of enormous national security risks "that we face right now, today."
A disruption to our chip supply would be catastrophic and America is still dependent on overseas producers. The longer we wait, the more danger there is.
National-security arguments were echoed by executives from several companies during the meeting
Chris Shelton of Communications Workers of America told Biden that they need to take on China's unfair trade practices.
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