Lawmakers Consider Legislation to Invest Over $100 Billion in Technologies to Compete with China
Senate Majority Leader Chuck Schumer (D-N.Y.) led dozens of bipartisan House and Senate members on Wednesday in rolling out legislation that would invest more than $100 billion in emerging technologies in an effort to put the U.S. on a level playing field with China.
The Endless Frontiers Act, first introduced last year, would establish a Technology and Innovation Directorate at the National Science Foundation, which would use $100 billion in federal funds over five years to research emerging technologies including artificial intelligence, quantum computing and semiconductors.
The legislation would also appropriate $10 billion to the Department of Commerce to help support regional technology innovation throughout the nation, while a further $2.4 billion would go toward expanding and enhancing U.S. manufacturing capabilities in key technologies.
