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Investment in US research and development lowest level in decades
- Thursday | 15th April, 2021
WASHINGTON (Reuters) – US investment in research and development has reached its lowest level in decades while soaring in the rest of the world, the head of a US Senate committee warned at a hearing on proposed subsidies to the tech industry to help the United States better compete with China. Senate Commerce committee chair Maria Cantwell told the committee on Wednesday the proposed “Endless Frontier Act” had been the stimulus for a big debate about America’s competitiveness. Federal investment in research and development is at its lowest in 45 years when measured against GDP, Cantwell said. INVESTMENT PLANSchumer also wants to move legislation on boosting US semiconductor production. Biden has also sought solutions to a chip shortage that has squeezed US automakers competing against the sprawling consumer electronics industry for chip supplies.
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