Домой United States USA — IT Biden Signs Landmark CHIPS Bill to Boost Chipmaking, Compete With China

Biden Signs Landmark CHIPS Bill to Boost Chipmaking, Compete With China

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US President Joe Biden signed signed the CHIPS Act on Tuesday, the new legislation that provides $52.7 billion (roughly Rs. 4,19,400 crore) in subsidies for US chip production and research. The bill was also designed to boost efforts to make the US more competitive with China and motivate firms to manufacture more chips in the country.
US President Joe Biden on Tuesday signed a landmark bill to provide $52.7 billion (roughly Rs. 4,19,400 crore) in subsidies for US semiconductor production and research and to boost efforts to make the US more competitive with China’s science and technology efforts.
«The future is going to be made in America,» Biden said, calling the measure «a once-in-a-generation investment in America itself.»
Biden touted investments that chip companies are making even though it remains unclear when the US Commerce Department will write rules for reviewing grant awards and how long it will take to underwrite projects.
Some Republicans joined Biden on the White House lawn to attend the signing of the chips bill that was years in the making in Congress.
The chief executives of Micron, Intel, Lockheed Martin, HP and Advanced Micro Devices attended the signing as did governors of Pennsylvania and Illinois, the mayors of Detroit, Cleveland and Salt Lake City, and lawmakers.

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