In a rare show of bipartisan solidarity, the US Senate on June 8, 2021, overwhelmingly approved a bill that aims to counter growing technological competition, most notably from China. The 68-32 vote for the US Innovation and Competition Act of 2021 includes about US$250 billion worth of spending to fund scientific research, semiconductor development and manufacturing. Senate majority leader Chuck Schumer, who co-sponsored the legislation, said the bill could be a “turning point for American leadership in the 21st century.” The legislation, called the Eagle Act, must now pass the House of Representatives to be sent to the White House for US President Joe Biden to sign into law.
Video source: Reuters
