It passed with broad bipartisan support, 64 to 33, reports CNN.

The measure now goes to the House for approval before it can be sent to President Joe Biden for his expected signature.

The legislation is aimed at addressing a semiconductor chip shortage and making the US less reliant on other countries such as China for manufacturing, reports CNN.

Senate Majority Leader Chuck Schumer tweeted: " The Senate has passed the Chips and Science bill—one of the largest investments in science, tech, and manufacturing in decades! This will create good-paying jobs, make microchips in the USA, alleviate clogged supply chains, boost America’s security interests, & lower costs."

New York State Governor  Kathy Hochul said: " Thank you
@SenSchumer for your leadership in passing this critical legislation & your partnership in making New York a national leader in the semiconductor industry. Chip manufacturing is crucial to our economy & national security, while creating good-paying jobs in our state."