With new signs that the semiconductor shortage may not abate for years, the U.S. House has passed sweeping legislation known as the America COMPETES Act. Approved along party lines, the $250 billion bill aims to increase U.S. competitiveness by strengthening the supply chain. (Here’s a summary of the bill as provided by U.S. House leadership.)
Importantly for Ohio, the bill includes $52 billion to incentivize domestic chip production, as well as $45 billion in grants and loans to enhance manufacturing facilities and strengthen domestic supplies. Republicans have noted, however, that unlike the Senate-passed U.S. Innovation and Competition Act, the House bill contains billions of dollars for climate change provisions, as well as questionable trade language and pro-labor card check provisions, which were added at the last minute.
Leaders from both houses must now negotiate differences between the two bills in conference. 2/7/2022