More than 2 years in the making, a massive bill that Congress completed aims high: The CHIPS and Science Act envisions a 5-year, $280 billion investment to keep the United States ahead of China in a global competition for technological preeminence.
More than 2 years in the making, a massive bill that Congress completed this week aims high: It envisions a 5-year, $280 billion investment to keep the United States ahead of China in a global competition for technological preeminence.
But that money is “authorized,” not committed. That leaves it to congressional spending panels to decide each year whether to appropriate the additional dollars. The only concrete boost in spending is $52 billion over 5 years for the semiconductor industry, along with $24 billion in tax credits for high-tech manufacturers.
Other sections of the bill address growing concerns that China has been stealing or unfairly benefiting from U.S.-funded research. In general, these research security provisions tighten oversight of interactions between U.S. and foreign scientists, and with foreign governments. Although organizations representing U.S. higher education hailed passage of the CHIPS and Science Act, they are disappointed that legislators rejected their pleas to include at least $10 billion in immediate funding to jump-start the grand vision it describes. They fear the authorized funding could be an empty promise.
At the same time, it also omitted immigration provisions in the House bill that many academic scientists believe are essential for maintaining a strong pool of high-tech talent. One would have made it easier for foreign-born scientists to stay in the country after earning a degree from a U.S. institution. Another would have created a new visa category for foreign scientists setting up companies based on their research.
It had become the CHIPS and Science Act by the time Schumer hailed the Senate’s final 64-to-33 vote on 27 July, a tally that included 17 Republicans. “This is a Sputnik moment, only instead of Russia it’s China, in which America realized that another rival power would get way ahead of us if we didn’t pull out all the stops,” Schumer said.
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