President Joe Biden signed the CHIPS and Science Act, writing into law the $280 billion package that includes $52 billion in funding to boost US domestic semiconductor manufacturing.
President Joe Biden signed the CHIPS and Science Act on Tuesday, writing into law the $280 billion package that includes $52 billion in funding to boost US domestic semiconductor manufacturing. “Today is a day for builders. Today, America’s delivering,” Biden said during the White House signing ceremony on Tuesday. “The CHIPS and Science Act is a once in a generation investment in America itself.
'“The CHIPS and Science Act is a once in a generation investment in America itself”' Those fears were nearly actualized after Intel approached the US Department of Commerce with a proposal to take over an abandoned factory in China sometime this year, according to a recent report from The New York Times. The Times confirmed that Intel suspended the plan, but company conversations with the administration pressured lawmakers to act on the chips investment bill ahead of their August recess.
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