Senate votes on $52 billion in semiconductor funding could come next week: reports

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Senate Majority Leader Chuck Schumer has told senators to expect a preliminary vote next week on a slimmed-down China competition bill that would include $52 billion in incentives and an investment-tax credit for U.S. semiconductor SMH, +2.53% manufacturing, Bloomberg News and other outlets reported Thursday. Earlier this week the Biden administration encouraged Congress to focus on passing the money for the semiconductor industry before leaving for August recess. Lawmakers have been debating a broader China competitiveness bill, which is stalled.

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