Billionaire taxes scrutinized - Fake app gets crooks - Bipartisan innovation boost

The Innovation and Competition Act passed 68-to-32 after hours of behind-the-scene negotiations, a flurry of last-minute amendments and an all-nighter of negotiations. The legislation, spearheaded by Senate Majority Leader Schumer and GOP Sen. Todd Young, would pump more than $200 billion into U.S. scientific innovation over the next five years.
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The expanded legislation would provide $52 billion in assistance to semiconductor manufacturing companies to make computer chips, which have been in a global shortage since last summer. Seventy-five percent of the world's chips come from Asia, according to a September 2020 report from the Semiconductor Industry Association.
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The legislation would also shell out $81 billion in congressional spending to the National Science Foundation budget between fiscal years 2022 and 2026, aiming to energize innovation by revamping ongoing programs and starting the new directorate. In addition, it would establish tech hubs in places they have not traditionally existed.