Schumer releases full China bill, includes $52 billion for CHIPS Act (updated)

Editor’s note: This story has been updated to reflect the latest version of the “American Innovation and Competition Act.” A previous version was based on draft text that did not include funding levels for the Creating Helpful Incentives to Produce Semiconductors in America Act. Senate Majority Leader Chuck Schumer (D-NY) on Tuesday released the full text of a legislative package aimed at increasing U.S. competitiveness vis-à-vis China, which proposes appropriating $52 billion for domestic semiconductor manufacturing incentives...