By David Shepardson

WASHINGTON, (Reuters) – The U.S. House of Representatives is holding a procedural vote Wednesday on a bill worth multibillion dollars that aims to increase American competition with China and boost U.S. semiconductor production. This would allow the legislation to be put up for final approval.

The Democratic President Joe Biden’s Administration has worked to convince Congress to pass the bill. It includes $52 Billion to support semiconductor research and manufacturing. This is because supply chain bottlenecks have exacerbated shortages of key components for computers and autos.

If the procedural vote succeeds in the narrowly Democratic-controlled House, the full chamber would seek to vote on the full bill on Friday after considering a number of amendments.

The bill contains several trade provisions. It would also allow for $8 billion of U.S. contributions towards the Green Climate Fund. This fund was established under the Paris Agreement to combat climate change.

Republicans propose an amendment to remove that funding. However, three Democrats would like to increase it by $3Billion.

Last week, Nancy Pelosi, House Speaker, stated that the 2,900 page bill, called the America Competes Act (or the America Competes Act), would boost investment in chip manufacturing, research and development capacity and American leadership.

House Republicans bemoaned Wednesday that Democrats had not included them in the legislation’s drafting. The climate clauses were criticized by the House Republicans who said that they can be used to aid China.

Rep. Michael McCaul stated that “Republicans have a strong ‘no’.”

Alexandria OcasioCortez (Representative) and Cori Bush (Representative) filed last week an amendment that would prohibit semiconductor companies from receiving subsidies to pay dividends or repurchasing stock.

Senate approved the U.S. The U.S. Innovation and Competition Act was passed by the Senate on June 68 to 32. The legislation authorizes $190 million for U.S. technology research and development to be competitive with China and includes $52 Billion to boost domestic semiconductor production.

House Bill – $45 Billion to Strengthen Supply Chains and Manufacturing of Critical Goods for Health, Communications and Other Sectors.

Senate and House members must meet to discuss differences within their respective bills, if the House bill passes. Both chambers would approve the final version and, if it passes, Biden would sign it.