CHIPS and Science Act passes the Senate, pushing for semiconductor solutions

American PoliticsHot SpotsShortages
Written By Jennifer Joslyn

🇺🇸 The Senate passed the CHIPS and Science Act this past Wednesday, gaining approval from industry groups lobbying for solutions to the semiconductor shortage.

In a 64-33 in favor vote, the $280 billion bill was developed in response to a semiconductor crisis that was been exacerbated by Covid-19 lockdowns, the Russia-Ukraine war, huge demand, and severe weather events. The bill includes $50 billion in subsidies for chipmakers who manufacture on American soil, tax incentives, and $170 billion in incentives for research and development of key materials needed in semiconductors.

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Jennifer Joslyn
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