After the Senate, the U.S. House of Representatives swiftly passed a $280 billion bill by a vote of 243-187 to improve U.S. competitiveness in the semiconductor industry. U.S. President Joe Biden is expected to sign the bill. The Chip Act would provide $52.7 billion in direct financial assistance for the construction and expansion of semiconductor manufacturing facilities and other programs, as well as $24 billion in tax incentives and other provisions.
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