USICA CLEARS THE SENATE

WASHINGTON, June 8 – In a 68-32 vote the Senate passed the U.S. Innovation & Competition Act (USICA). The Senate’s passage of this bill on a bipartisan basis is a huge boost for XR for several reasons. Foremost among them, the bill includes our “immersive technology” language. And, more importantly, the bill authorizes nearly $250 billion in R&D, investment, and educational training for critical and emerging technologies – to include immersive technologies, AI, semiconductors, and advanced battery technology, among others. This level of investment will drive rapid development in the XR technology ecosystem!

Congratulations and thanks to Senator Schumer, Senator Young, and Senator Blunt for their leadership in passing the US Innovation and Competition Act in the Senate and including XR tech among its key focus areas. The XRA urges its passage in the House.