TAIPEI (Taiwan News) — Democrats in the U.S. Senate announced on Wednesday (May 3) that they plan to introduce the "China Competition Bill 2.0" to strengthen Washington's ability to counter China on technology, security, and Taiwan-related issues.

U.S. Senate majority leader Chuck Schumer and Democratic committee chairs announced they would be drafting legislation they hoped would be introduced in the next few months to limit the flow of advanced technology to China, tighten rules to keep U.S. capital from pouring into Chinese companies, secure domestic economic investment, continue support of allies and partners, and prevent China from initiating a conflict with Taiwan.

Schumer said the "China Competition Bill 2.0" will expand the CHIPS and Science Act of 2022 (CHIPS Act). At a news conference, Schumer said, "Today, we are announcing a new initiative, one that will build on this momentum and develop new and significant bipartisan legislation."

Schumer said he hoped the bill would gain bipartisan support, with Senate Republicans approving some of the proposals in the bill. The bill will need the backing of Republicans, who control the House of Representatives, to become law.

The U.S. Congress has been divided for many years due to partisan differences, but being tough on China is one of the few areas that has achieved bipartisan consensus. The CHIPS Act also passed last year with overwhelming support from both parties.