A US Senate committee voted 24-4 on Wednesday, May 12, to approve a compromise measure to authorize more than US$110 billion for basic and advanced technology research over five years in the face of rising competitive pressure from China, reported Reuters.
The “Endless Frontier” act would authorize 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, including artificial intelligence, semiconductors, quantum computing, advanced communications, biotechnology and advanced energy.
The measure will now move to the full US Senate.
“This legislation will allow the United States to out-compete countries like China, create more good-paying American jobs and help improve our country’s economic and national security,” said Senate Democratic Leader Chuck Schumer, who sponsored the bill along with Senator Todd Young, a Republican from Indiana.
Schumer said in a statement after the vote that he intended for the full Senate to “consider and finish” the legislation before the end of the month, and that he expected strong bipartisan support.
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