WASHINGTON – A group of US senators are expected to reveal a $52-billion five-year plan to boost US semiconductor chip production and research, according to reports.

Sen. Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been meeting to devise a compromise strategy to address competition with China, as well as shortages particularly affecting the US automotive industry.

Cornyn has reportedly not signed on to an amendment yet. Sources say a decision on a provision to include labor rates hasn’t been resolved.

Funding for chips is expected to be included in a bill the Senate will review next week, with plans to spend more than $110 billion on US and advanced technology research, including $49.5 billion in emergency supplemental appropriations.

Sen. Schumer said the Senate will discuss the Endless Frontier Act next week in an effort to "invest in the American semiconductor industry, ensure China pays a price for its predatory actions, and boost advanced manufacturing, innovation, and critical supply chains."

President Joe Biden supports $50 billion to increase semiconductor production and research. China is investing more than $150 billion in semiconductor manufacturing to control the technology. Currently, some 12% of semiconductors are manufactured in the US.

The draft summary says it would include $39 billion in production and R&D incentives and $10.5 billion to implement R&D programs.