U.S. Senate passes sweeping bill to address China tech threat – Yahoo Finance

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Chinese and U.S. flags flutter outside the building of an American company in Beijing

WASHINGTON (Reuters) - The U.S. Senate on Tuesday voted 68-32 to approve a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology, as Congress increasingly seeks to take a tough line against Beijing.

The bipartisan measure authorizes about $190 billion for provisions to strengthen U.S. technology and research -- and would separately approve spending about $50 billion to increase U.S. production and research into semiconductors and telecommunications equipment. The bill must also pass the House of Representatives to be sent to the White House for President Joe Biden to sign into law.

(Reporting by David Shepardson; Editing by Leslie Adler)

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