House OKs chips and science bill in 243-187 vote, sending it to Biden to be signed into law
In a 243-187 vote on Thursday, the U.S. House of Representatives gave its approval for a $280 billion bill focused on domestic semiconductor manufacturing and scientific research. The Chips and Science Act of 2022, which provides $52.7 billion for the microchips industry, is expected to get signed into law quickly by President Joe Biden, who has called for House passage after the Senate gave its OK on Wednesday. Earlier this week, the measure had been expected to sail through the House with ease, but on Thursday there were concerns that it would face a closer-than-anticipated vote, after Republicans objected to Wednesday's surprise deal among Senate Democrats on a separate $739 billion healthcare, climate and tax package.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.