Senate Passes Bill to Boost U.S. Tech Industry to Compete With China
Published Date: 6/9/2021
Source: Bloomberg Quicktake: Now
The Senate overwhelmingly passed an expansive bill to invest almost $250 billion in bolstering U.S. manufacturing and technology to meet the economic and strategic challenge from China. The 68-32 vote on the legislation Tuesday was a rare spot of bipartisanship in an otherwise polarized Senate and a clear indicator of the concern in both political parties that the U.S. risks falling behind its biggest global competitor. “When all is said and done, the bill will go down as one of the most important things this chamber has done in a very long time,” Senate Majority Leader Chuck Schumer said on the Senate floor ahead of the vote. “Whoever wins the race to the technologies of the future is going to the be global economic leader -- with profound consequences for foreign policy and national security as well.” Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake