Some Republicans and companies have criticized the conditions on the CHIPS Act funds.
projects to build up U.S. chip-manufacturing capacity. But the strings attached to the government money have raised concerns among the industry and conservatives.reported that TSMC was worried about rules involving profit-sharing of surplus gains and providing details about operations.
"We simply will not be successful in achieving the national security goals of the CHIPS initiative unless we invest in our workforce, period. Full stop," Raimondo toldin an interview published in late February. "For decades, we've taken our eye off the ball with manufacturing, which means the worker supply of people with the skills to do super technical manufacturing has withered.
In their letter Monday, the chambers also argued that wage and labor contract requirements serve an important business purpose for controlling costs and timeline. They applauded stipulations that would bar companies that accept government money from pursuing stock buybacks for five years. And they supported a policy to require those companies to share a portion of the surplus returns they receive after accepting CHIPS Act funding with the U.S.
"To ensure continued political and public support for the program, implementing strong transparency measures and safeguards now is the best path forward," the groups wrote.
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