Bipartisan Senate Group Said To Plan $52 Billion Bill To Address Chip Shortage

Bipartisan Senate Group Said To Plan $52 Billion Bill To Address Chip Shortage

Share to Linkedin Hoping to address a worldwide shortage of semiconductors, a bipartisan group of senators is preparing to unveil a $52 billion package that would increase U. S. chip manufacturing and research over the next five years, Reuters reported. U. S. President Joe Biden holds a semiconductor during his remarks before signing an Executive Order ... [+] on the economy in the State Dining Room of the White House on February 24, 2021 in Washington, DC. (Photo by Doug Mills/Pool/Getty Images) A shortage of microchips has plagued the global economy for months, with the auto industry particularly affected. The crunch began after demand spiked for cars, computers and other personal electronic devices last year, while the pandemic forced manufacturing plants to shutter, disrupting the global supply chain. Sens. Mark Kelly (D-Ariz.), John Cornyn (R-Texas), Mark Warner (R-Va.) and Tom Cotton (R-Ark.) are proposing to spend $39 billion in research and development incentives, along with $10. 5 billion for specific programs such as the National Semiconductor Technology Center, and the National Advanced Packaging Manufacturing Program, according to Reuters. A Cornyn spokesperson, in an email to Forbes, said the senator "is not introducing anything." The funding would be part of a