WASHINGTON: Members of Congress will meet on Thursday, according to Reuters, to begin negotiations on a compromise deal that would provide $52 billion in subsidies to the semiconductor industry while also strengthening US competitiveness with Chinese technology.

The Senate passed its version of the bill in June 2021, while the House did so in February. On Thursday, a “conference committee” of over 100 House and Senate members will convene for the first time. A final agreement, according to legislative aides, might take months to reach.

A chronic chip scarcity has damaged the automobile and electronics industries, causing some corporations to decrease production.

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