As a bipartisan bill that aims to support the U.S. semiconductor industry continues to clear key procedural hurdles, analysts are predicting the measure could end up scoring full approval from Congress in a matter of days.
Analysts at Beacon Policy Advisors said in a recent note that “all indications” point to the Senate passing the legislation this week.
There is an 85% probability that the bill will be passed by the Senate, then score the House’s OK and get signed into law by President Joe Biden, said Benjamin Salisbury, director of research at Height Capital Markets, in a note on Tuesday morning. He has raised his odds from 80% on Monday and 75% last week.
Biden called for passage of the chips bill during a virtual event on Monday afternoon that featured other administration officials, leaders from labor unions and three company CEOs — Tom Linebarger from Cummins CMI, -0.89%, Jim Taiclet from Lockheed Martin LMT, -0.75% and Geoff Martha from Medtronic MDT, +1.27%.
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