House approves CHIPS Act by 243-187 vote

As expected, the U.S. House of Representatives moved quickly to pass the CHIPS Act Thursday, the $280 billion piece of legislation that will allocate $52 billion to the semiconductor industry and billions more to related subsidies, research and programs.

The vote went 243-187 to pass the bill, with Rep. Bernie Sanders as the only Democrat voting against it and 24 Republicans joining the votes to approve it. 

Though many Republicans opposed the bill on the same grounds as Sanders–that it amounts to a hand-out for a multi-billion-dollar industry–others viewed it as important to national security, the country’s economic independence and strengthening U.S. competition against China.

The House vote came after the Senate voted 64-33 earlier this week to approve the bill. It now awaits the signature of the president.