House Passes COMPETES Legislation
Among its key provisions, the COMPETES Act sets ambitious spending targets for the National Science Foundation, Department of Energy Office of Science, and National Institute of Standards and Technology. The COMPETES Act also seeks to bolster the U.S. semiconductor industry by providing $52 billion for domestic semiconductor R&D and manufacturing. The COMPETES Act would expand NIST’s yearly budget from $1.4 billion to $1.8 billion over five years. The bill also expands the National Science Foundation’s (NSF) budget capacity, raising NSF’s yearly top-line budget from $8.5 billion to $17.9 billion over five years. Although DOE’s Office of Science would increase from $7 billion to $11.1 billion over five years, its total funding during that time is about $1.7 billion less than that included in USICA.
For additional information on the America COMPETES Act, visit: https://www.congress.gov/bill/117th-congress/house-bill/4521