US Congress edges toward massive China competition bill with votes on Iran
The US Congress edged closer on Wednesday toward completing a long-stalled bill authorizing hundreds of billions of dollars to boost the country’s ability to compete with Chinese technology, with Senate votes on motions addressing issues including energy policy and Iran sanctions.
Congress has been working on China competition legislation for more than a year. The Senate first passed a version in June 2021, with strong bipartisan support. That $250 billion bill was hailed as potentially the most significant government intervention in manufacturing in decades, but stalled in the House of Representatives.