09.08.2022 17:01 Uhr, Quelle: Engadget

President Biden signs CHIPS Act to boost semiconductor production

Following successful votes in the Senate and House of Representatives, President Joe Biden has signed the CHIPS and Science Act into law. The $280 billion measure will provide significant financial assistance to American semiconductor firms. It sets aside $52 billion in tax credits and funding for US chipmakers to expand domestic production. In a rare episode of bipartisan unity, the Senate voted 64-33 in favor of the bill. It was later passed by the House thanks to a 243-187 vote.“America invented the semiconductor, but over the years we let manufacturing of semiconductors move overseas. As we saw during the pandemic, when the factories that make these chips shut down, the global economy came to a screeching halt, driving up costs for families” Biden said during the ceremony. “A third of the core inflation last year was due to the high price of automobiles, which was driven by the shortage of semiconductors. For the sake of our economy, jobs and national security, we have to make these semi

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