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WASHINGTON — U.S. Secretary of Commerce Gina Raimondo said on Wednesday that lawmakers appear to be moving to carve off $52 billion in semiconductor chips manufacturing subsidies from a larger bill on boosting U.S. competitiveness with China.
“Things seem to be coalescing around the path of chips, or maybe chips plus a thing or two, and getting it done this month,” Raimondo told Reuters in a telephone interview. “It seems like that’s what Congress is coalescing around.”
A smaller bill could also include investment tax credits for semiconductor manufacturing, she said, but emphasized that discussions are very fluid. “That is a good outcome because the worst outcome is getting nothing done by Aug. 4,” when Congress leaves for summer recess, she said. (Reporting by David Shepardson; Editing by Leslie Adler)
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