Democratic lawmakers and the White House have been fighting for some time to pass a bill that would fund $52 billion in subsidies for chip production and boost technological innovation in the United States.

According to relevant media reports, U.S. Secretary of Commerce Gina Raimondo, Director of National Intelligence Avril Haines and Deputy Secretary of Defense Kathleen Hicks will participate in a briefing of senators at 4 p.m. local time on Wednesday (13th) local time. The meeting aims to promote The passage of the 330 billion yuan chip bill.

Raimondo said the chip bill "has to be passed now," stressing that not six months from now, but now. The chip bill would help "reduce the price of chips," she said.

On July 11, Raimondo said that the US chip bill will finally be passed by Congress, and that great progress has been made on the chip bill in two weeks.

It is reported that the bill authorizes $330 billion in research and development, including $52 billion to subsidize semiconductor manufacturing and research on key components for cars and computers, and $45 billion over the next six years to alleviate supply chain problems.

Earlier this year, the U.S. House of Representatives passed the U.S. Competition Act of 2022, which includes subsidies to the semiconductor industry, on Feb. 4 by a vote of 222 to 210. On March 28, the U.S. Senate passed the Senate version of the bill with 68 votes in favor and 28 against. After that, the House and Senate need to negotiate to launch a compromise version approved by both parties before it can be sent to the President for approval.