U.S. Senate Panel Approves “Endless Frontier” $110 Billion Dollar Tech Bill to Address China

(Reuters) A U.S. Senate committee voted 24-4 to pass a compromise measure authorizing more than $110 billion for basic and advanced technology research over five years in the face of rising competitive pressure from China.
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 bill must still be approved by the full U.S. Senate