The U.S. Senate Commerce Committee will hold a hearing on April 14 on a bipartisan bill to boost U.S. technology research and development efforts to counter Chinese competition, according to a notice seen by Reuters.
The bill, called the Endless Frontier Act, had initially been introduced in May 2020, but did not make progress in the last Congress. The bill calls for $110 billion over five years to boost U.S. technology research and development. The bill’s co-sponsors are Senate Democratic Leader Chuck Schumer (D-N.Y.) and Republican Senator Todd Young (R-N.Y.).
The Senate Commerce Committee may hold a separate hearing later in April to debate the bill’s language, the sources told Reuters.
Schumer, who became Senate majority leader in the new Congress, said in February that he had directed the bipartisan leaders of the relevant committees to draft legislation with the goal of beating China to the competition and creating new jobs for Americans.
Schumer said at the time that the bill being drafted was an updated version of the Endless Frontier Act introduced last year.
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