US Senate passes key bill to counter Chinese competition

US Senate passes key bill to counter Chinese competition

Washington, Jun 9 (PTI) The US Senate has approved a significant legislative package aimed at improving the country’s economic competitiveness with China and holding the Communist government there accountable for manipulations.

The Senate passed this important anti-China bill by a vote of 68-32. It is considered a major political victory for Senate Majority Party leader Chuck Schumer.

More than US$100 billion will be invested to strengthen America’s position in critical scientific and technological innovation under the US Innovation and Competition Act.

The investment will also help protect supply chains and resolve disruptions during crises.

In addition, funding for the activities of the National Science Foundation has also been increased through this bill.

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