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U.S. House names lawmakers to hammer out deal with Senate on chips funding -Breaking

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© Reuters. In this illustration taken February 25, 2022, semiconductor chips can be seen on the circuit board of a PC. REUTERS/Florence Lo/Illustration

(Reuters) – U.S. House speaker Nancy Pelosi is a Democrat and Republican House leader Kevin McCarthy are named as negotiators for a deal to be reached with the U.S. Senate regarding a bill providing $52 million in subsidies to support semiconductor production.

While the Senate approved chips legislation first in June, it also authorized $190 million to support U.S. technology research and to be more competitive with China. House approval came in early February.

To reach a compromise, about 80 House legislators including chairs and top Republicans from key committees will be part of a process known as “conference committee”.

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