https://apnews.com/395fa2476a798701f43758805c7eab8d

WASHINGTON (AP) — The Senate was on pace to approve legislation Tuesday that aims to boost U.S. semiconductor production and the development of artificial intelligence and other technology in the face of growing competition internationally, most notably from China.

The centerpiece of the bill is a $50 billion emergency allotment to the Commerce Department to stand up semiconductor development and manufacturing through research and incentive programs previously authorized by Congress. The bill’s overall cost would increase spending by about $250 billion with most of the spending occurring in the first five years.