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$54 billion in five-year grants for semiconductor manufacturing and research as well as 5G wireless deployment, a 25 percent tax credit for investments in semiconductor manufacturing facilities through 2026
Powell’s term as chairman expires in 2026 and as a board member in 2028. Of Biden’s Fed nominees, only Barr, who was nominated last month, still awaits a confirmation hearing and vote.
Brainard’s term on the board and as vice chair expires in 2026. Niels Lesniewski contributed to this report.
Lummis, a longtime crypto advocate next up for election in 2026, received at least $34,000.
Spending drops sharply after 2026, when only full refundability would remain in place. About $13 billion of that cost would be for keeping it fully refundable in the second half of the decade.
The committee earlier this year unanimously approved legislation that would spend more than $35 billion through fiscal 2026 on drinking water systems and wastewater projects.
Biden nominated Santos to serve out Dillingham’s remaining term, which expires later in the year, as well as a new five-year term that runs through the end of 2026.
Waters’ draft bill would increase the number of vouchers incrementally for five years and then guarantee subsidies for all who qualify starting in 2026.
Long-term changes Biden nominated Santos to serve out the remainder of previous Director Steven Dillingham’s term, as well as another five-year term through 2026.
To offset some of the added cost, the compromise amendment would extend a limit on losses some business owners can claim against other income for an extra year, through 2026.