Chuck Schumer, the Democratic leader in the Senate, will call a vote on a long-awaited $52bn package of subsidies to US chipmakers as soon as Tuesday as he tries to put pressure on others in Congress to back it.
Democratic aides have told the Financial Times Schumer is planning the move on approving the money to fund the Creating Helpful Incentives to Produce Semiconductors (Chips) Act after deciding to drop a range of other measures designed to tackle growing Chinese technological power.
A draft of the bill being circulated around Congress on Monday also included elements of a separate bill, known as the Fabs Act, which offers tax credits to build chipmaking plants, and $1.5bn for funding 5G networks.
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