The U.S. share of global semiconductor-manufacturing capacity has declined sharply over the past three decades, fueling concerns about American reliance on imports for chips that are crucial to the economy and national security.
In an effort to reverse that decline, Congress passed the CHIPS for America Act last year and the legislation was signed into law. It’s designed to provide government subsidies to encourage chip production in the U.S., as well as support for semiconductor research and development. But it was only earlier this month that the House of Representatives approved $52 billion of funding for the CHIPS act, matching the amount approved by the Senate last June. Now the separate legislation containing the House and Senate funding will have to go through a negotiation process to produce a single bill that will need new approval from both houses of Congress.
