A US Senate committee voted around the clock to pass a compromise measure that approved more than $ 110 billion for basic and cutting-edge technology research over five years in the face of increasing competitive pressure from China.
The Endless Frontier bill would use most of the money, $ 100 billion over five years, to invest in basic and advanced research, commercialization, and education and training programs in key technology areas such as artificial intelligence, semiconductors, quantum computing and Advanced Communication Grant, Biotechnology and Advanced Energy.
The bill has yet to be approved by the entire U.S. Senate, and the U.S. House is working on a similar effort.
“This legislation will enable the United States to outperform countries like China, create well-paying American jobs, and help improve our country’s economic and national security,” said Chuck Schumer, Democratic Senate chairman, who co-authored the bill with Senator Todd Young, a Republican from Indiana.
Schumer said in one …