The sweeping competition bill, which offers $280 billion in funding for high-tech research, development, and manufacturing in the US, now goes to President Biden for his signature.
Semiconductor manufacturing and a host of other high-tech activities–from nuclear fusion to drone transportation to particle-accelerator research–stand to get a boost from a bill now headed to President Biden for his signature.
The House’s 243-187 vote Thursday for the CHIPS And Science Act followed the Senate’s 64-33 vote Wednesday for this bill, which in turn came months after each chamber had passed different, larger tech-competition measures built around it.
The core of the $280 billion CHIPS Act–that’s short for “Creating Helpful Incentives to Produce Semiconductors”–is $52.7 billion in funding to promote the US manufacture of semiconductor chips and help alleviate the chip shortage. The money will pay for factory-construction incentives, provide workforce training, pay for targeted tax credits, and underwrite loans and loan guarantees to qualifying companies.
