CHIPS Act Passes Senate Vote, After $52B Became $280B to Fund Scientific Research Too
28th July 2022
The CHIPS Act, originally designed to provide $52B in incentives for chipmakers to open US plants, has now passed a Senate vote, with bipartisan support. It is expected to pass a House vote as early as next week, but has gained weight in its journey through Congress.
A billion here, a billion there, and pretty soon you’re talking about real money.
Apple lobbied in favor of the original plan, stating that it was vital to the construction of a TSMC plant in Arizona, which is expected to make chips for the Cupertino company …
Well, if Red China invades Taiwan, that chip plant will certainly come in handy. You’ll not that ‘the Cupertino company’ isn’t pushing for something to be built in California.
A cynic might suggest that a much larger pot of money will see funds sent to a greater number of Senate constituencies, allowing senators to boast about how many jobs they’ve created in their state – just in time for the midterms.
Oh, ya think?