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Tuesday, 09 August 2022 14:25

Biden Signs $280 Billion Chip Funding Bill

Written by Jacob Knutson, AXIOS

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President Joe Biden on Aug. 9 signed a $280 billion package that aims to boost the domestic chip-making industry and scientific research.

"Fundamental change is taking place today---politically, economically and technologically," Biden said before signing the Chips and Science Act. "Change that can either strengthen our sense of control and security, of dignity and pride in our lives and our nation, or change that weakens us.

 

The funding is meant to bolster the domestic production of semiconductors---a vital component for almost every electronic device we use today---to help prevent future supply chain crises and increase competition with China.

 

To read more, see AXIOS.