senate: US Senate votes to advance sweeping semiconductor industry bill 

The US Senate recently voted 64-32 to advance legislation to boost US semiconductor manufacturing to address concerns about competition with China.

The legislation provides about USD52 billion in subsidies for US semiconductor production as well as an investment tax credit for chip plants estimated to be worth USD24 billion.

The Senate is expected to vote on final passage in coming days and the US House could follow suit as soon as later this week.

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