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File photo of U.S. Senator Charles Schumer (2010).
WASHINGTON, DC – Yesterday, U.S. Senate Majority Leader Charles E. Schumer filed the bipartisan U.S. Innovation and Competition Act, which combines Schumer’s Endless Frontier Act, other bipartisan competitiveness bills, and $52 billion in emergency supplemental appropriations to implement the semiconductor-related manufacturing and R&D programs authorized in last year’s National Defense Authorization Act and a program to support legacy chip production that is essential to the auto industry, the military, and other critical industries.
An additional $1.5 billion is provided for implementation of implement the USA Telecommunications Act that was also passed as part of last year’s NDAA to foster U.S. innovation in the race for 5G. This package of innovation bills will receive a final Senate vote in the days ahead.
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$2 billion for a CHIPS for America Defense Fund: Funding is appropriated up front and $400 million is allocated each year, over 5 years for the purposes of implementing programs authorized in Sec. 9903(b), providing support for R&D, testing and evaluation, workforce development, and other related activities, in coordination with the private sector, universities, and other Federal agencies to support the needs of the Department of Defense and the intelligence community.
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$500 million for a CHIPS for America International Technology Security and Innovation Fund: Funding is appropriated upfront and $100 million each year, allocated over 5 years to the Department of State, in coordination with the U.S. Agency for International Development, the Export-Import Bank, and the U.S. International Development Finance Corporation, for the purposes of coordinating with foreign government partners to support international information and communications technolo