On Tuesday, President Joe Biden signed into law the CHIPS and Science act, which will provide a $280 billion package to boost semi-conductor production in the United States.
The full title of the bill is Creating Helpful Incentives to Produce Semiconductors for America Act. The legislation has ring-fenced $52 billion specifically for computer chips.
Biden touted the bill during a White House ceremony after signing it. “Today is a day for builders. Today, America’s delivering. The CHIPS and Science Act is a once in a generation investment in America itself,” Biden said. “Today, I am signing the law, the Chips and Science Act, a once-in-a-generation investment in America itself, a law the American people can be proud of,” Biden went on to say.
The bill has been in the works for over a year. It cleared both chambers of Congress in late July with a sizeable bipartisan support. The Senate passed it 64-33, with 17 GOP senators voting for the bill, while the House voted it in favor with a 243-187. 24 house Republicans voted for the bill.
There has been a recent shortage in computer chips, and this has caused tech companies to invest in new factories. The aim of the bill is to prevent more factories being off-shored to China, which would stifle growth in the US for the industry.
During the pandemic, many customers wishing to snap up the PlayStation 5 were left disappointed as a result of the chip shortage.
Last month Commerce Department Secretary Gina Raimondo cautioned that the United States could miss the boat on the semiconductor industry’s urgency to manufacture more chips.
“Semiconductor companies need to get ‘concrete in the ground’ by this fall to meet this increased demand in the years ahead,” Raimondo and Secretary of Defense Lloyd Austin wrote in a letter addressed to congressional leaders in mid-July. “CEOs of firms all along the supply chain have made clear that the industry is deciding where to invest now.”
- Christianity Today
- Constitution 101
- Creation Corner
- Entertainment Today
- First Amendment
- Foundation of our Nation
- Guest Columns
- Human Interest
- Ignite the Pulpit
- Let's Talk
- Money matters
- Racial Issues
- Tea Party
- Trump elevator pitch
- World news
News4 days ago
WaPo: Trump is now in a ‘simmering rivalry’ with DeSantis
Executive3 days ago
Nord Stream – sabotage
Executive2 days ago
Jackie Walorski at top of mind
Executive2 days ago
The ONLY Issue in the 2022 Election is Voter Fraud
News5 days ago
Florida governor signs executive order aimed at protecting national security by securing user data
Let's Talk4 days ago
Edward Snowden, Russian citizen
Guest Columns4 days ago
America’s future: the case for optimism
Accountability4 days ago
Rep. Stefanik rejects claims of division in GOP, accuses Democrats of ‘creating crises across this country’