As a global chip shortage continues to put a strain on demand, experts are urging the government to help American manufacturers make more chips.
CBS News correspondent Meg Oliver visited a microchip production plant in upstate New York that's trying to ramp up production. GlobalFoundries, which is about 20 miles north of Albany, produces about one million chips a day, but the demand is so great that the company says it needs to put out at least 10 times more than that.
Chips are needed for just about all devices, including laptops, home appliances like refrigerators, gaming consoles and medical equipment. The U.S. produces just around 12% of the world's supply and it has. But when the pandemic hit, it shut down major production plants, decreasing supply. There is renewed focus on producing more chips at home, as some experts warn not doing so could also be a. The House of Representatives is currently considering the Chips for America Act, which would provide U.S. manufacturers with $52 billion in funding to help boost domestic production.
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