U.S. developing plans to spend $52 billion on chips supply -Commerce Department

FILE PHOTO: U.S. Secretary of Commerce Gina Raimondo speaks during a high speed internet event at the Eisenhower Executive Office Building's South Court Auditorium at the White House in Washington, U.S., June 3, 2021.REUTERS/Evelyn Hockstein/File Photo

WASHINGTON (Reuters) - The Biden administration is developing plans to quickly spend $52 billion to deal with semiconductor supply issues if Congress passes a bill funding such efforts, U.S. Commerce Secretary Gina Raimondo said on Thursday.

(Reporting by Jeff Mason and Trevor Hunnicutt)