Draft Senate Bill Would Restrict Some China, Russia Investments

US Lawmakers will consider this week a slimmed down version of a bill designed to increase domestic semiconductor manufacturing and compete with China.

• Leadership have circulated text and a summary of legislation that would include $52 billion in grants and incentives to attract chip companies to the US along with money for training and wireless technology, according to a person familiar with the matter
• It would also include restrictions on investing in China and Russia for companies that receive federal assistance, according to a person familiar. Some restrictions on stock buybacks are also included, the person said.
• Text includes $200m ...