Eyeing China, Finance considers bills to boost competitiveness via R&D, tax incentives

The Senate Finance Committee is considering several bills aimed at boosting U.S. competitiveness with China by changing tax laws to incentivize domestic manufacturing and research and development, particularly for technologies such as semiconductors. “This committee has a host of economic tools in the kit that can help shore up domestic manufacturing,” Finance Chairman Ron Wyden (D-OR) said on Tuesday during a committee hearing on the effect the U.S. tax code has on domestic manufacturing. Wyden cited efforts by Sens. Debbie...