U.S. lawmakers proposed an estimated $25 billion in funding and tax credits to strengthen domestic semiconductor production and counter rising technological competition from China. The effort would support companies building plants in the U.S. and buying chipmaking equipment, while sponsoring research and development into “cutting edge semiconductor” production. Companies such as Intel Corp. have complained for years that overseas rivals benefit unfairly from government support. A semiconductor manufacturing plant costs an estimated $15 billion to construct. The sector spent almost $40 billion on research and development last year, about a fifth of its revenue.U.S. Versions of bills to be introduced in the House and Senate are sponsored by members of both parties. The chip industry is the U.S.’s fifth-largest exporter,but China is the biggest market for chips. The proposal is aimed at maintaining U.S. leadership in a $400 billion industry that’s become central to President Donald Trump’s trade war against China. source