Companies will soon be able to bid on billions of govt dollars intended to boost US semiconductor manufacturing, but POTUS will make them jump through hoops first. The announcement angered GOP senators whose votes made passage of the CHIPS Act possible.
Any firm hoping to get some of the $39 billion on offer will need to provide child care, detail its relationships with unions, share profits beyond a certain threshold with the government, and purchase supplies from domestic producers, among other things.Team Biden announced these provisions in late February, angering Republican senators whose votes made passage of the CHIPS and Science Act possible.
That’s why we’re requiring companies that receive funding to tell us how they plan to provide affordable child care for workers. https://t.co/8fTObAkjU7But that's not what Congress voted for, critics say. Worse, by adding costs and red tape, the restrictions undercut the bill's primary purpose of making American computer chip manufacturing more competitive.
The $280 billion CHIPS and Science Act passed the Senate by a vote of 64-33, with 17 Republicans putting it across the filibuster threshold. Some may now have buyer's remorse.
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