A bill that would eliminate some federalenvironmental review processes for certing CHIPS Act
FILE - The symbol for Intel appears on a screen at the Nasdaq MarketSite in New York, Oct. 1, 2019. environmental review requirements for qualifying CHIPS Act projects was passed by the U.S. House of Representatives Monday night and will now head to the president.
The bipartisan Building CHIPS in America Act passed the House 257-125 after previously passing the Senate in December. The bill, sponsored by four Republican senators, two Democrats, and one independent, would exempt some projects from federal environmental reviews mandated under theThis doesn't mean the projects would have environmental impact studies. Instead, they would have to have prior studies and decisions that meet the standards of NEPA, including studies already completed for state review. This also limits the timeline for court challenges.
Brown said the bill would give the president's administration more authority to implement the CHIPS Act and "boost domestic microchip manufacturing, strengthen domestic supply chains, lower costs, and improve national security."The recent news has lifted Intel's stock to a new monthly high, though share prices remain down over 50% for the year.
CHIPS Act Intel Semiconductor Environmental Reviews Manufacturing National Security Supply Chains
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