House Leaders Near Agreement on Stalled China Competition Bill
- House bill had hit logjam amid pushback from both parties
- Schumer, White House consider bill a top legislative priority
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The U.S. House of Representatives is preparing to move forward on a China competitiveness bill that would authorize billions of dollars in funding to bolster U.S. research and development as well as aid for the domestic semiconductor industry, according to a leadership aide.
The move comes after Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi in November announced a deal to find a way to get the U.S. Innovation and Competition Act through Congress after the Senate had passed it in June. The legislation, which has bipartisan support, is a major legislative priority for Schumer and the Biden administration.