Home Business Congress begins final negotiations on the supply chain, the semiconductor bill

Congress begins final negotiations on the supply chain, the semiconductor bill

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Congressional politicians have officially begun talks on comprehensive legislation aimed at facilitating domestic semiconductor production and improving cargo traffic in ports.

Legislators involved in the talks met on May 12 to finalize freight-oriented legislation. The provisions of the bills passed by the House of Representatives and the Senate, which allow to get more than $ 50 billion for semiconductor chips, are in question.

These measures include the U.S. Innovation and Competition Act, or USICA, which will specifically aim to improve programs in the Department of Energy. Aspects of the Maritime Reform Act are likely to be approved during the talks. This bill is aimed at the Federal Maritime Commission, requiring carriers to issue certain reports to the commission every quarter. This would also pave the way for the registration of shipping exchanges.

Negotiations in Congress are called conference committee meetings. The final legislative version is expected in the coming weeks.

“Every member of this conference committee must recognize the need to strengthen our supply chains, revitalize American production and open the next generation of technological innovation,” said Sen. Maria Cantwell (D-Wash.), Chair of the trade committee, which is tasked with organizing the final bill. .

Intel CEO Pat Gelsinger at the opening of two chip factories on the Ocotillo campus in Chandler, Ariza, in September 2021. (Intel Corp.)

“No need to waste time, and I look forward to showing the American people that we can pass this important law as soon as possible,” Cantwell added.

The leaders of the House of Representatives, who participated in the talks, expressed a sense of urgency. “Our bills have been drafted from scratch with the strong input of the scientific community on what they need most to succeed in the 21st century. They will strengthen our country’s competitiveness and reaffirm our global leadership in innovation and technology, ”said Eddie Bernice Johnson, D-Texas, Chair of the Committee on Science, Space and Technology.

Republicans participating in the talks have said they will seek to promote domestic oil production.

At the White House, President Joe Biden and his senior officials welcomed Congress’s efforts to allocate about $ 50 billion in new funding for semiconductor production. “A significant disruption in semiconductor supplies could cause historic damage to the U.S. economy, damage far more than the impact of chip shortages on the U.S. auto industry today, and undermine our technological competitiveness and military advantage over global rivals,” the statement said. to background with white house. “The House of Representatives and the Senate have passed bills on historic investment in research, domestic production and America’s semiconductor production capacity.”

Last month, Trade Minister Gina Raymond urged senators to finalize the cargo package. “I can’t say firmly enough with what urgency we should act. Other countries are not waiting for us, ”the secretary told the senators. “China has invested $ 150 billion. Germany, Singapore, Spain, France – all invest.

Industry stakeholders also urged Congress to complete the development of a supply chain-focused bill with a focus on semiconductors. “US businesses in every sector of the economy are facing a shortage of semiconductors, and the only way to alleviate the current imbalance of supply and demand in the long run is to increase production capacity,” said recently the CEO of Intel Corp. Pat Gelsinger before the Senate Trade Committee.

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