Biden signs the CHIPS Act to increase semiconductor production

Biden firma il CHIPS Act per aumentare la produzione di semiconduttori thumbnail

Joe Biden

After the positive votes in the Senate and the House of Representatives, the president Joe Biden has converted the CHIPS and Science Act. One measure from ben 280 million dollarswhich will provide significant financial assistance to US companies engaged in the semiconductor production. The goal, as you can imagine, is above all to increase internal production. And this explains why the measure got the approval of both the Senate and the House – a rather rare event, let’s face it! -.

CHIPS Act: so the US focuses on internal semiconductor production

“America invented semiconductors, but over the years we have let semiconductor manufacturing move overseas. As we saw during the pandemic, when the factories that make these chips closed, the global economy came to a halt, driving up costs for households, ”said President Joe Biden. “A third of last year’s core inflation was due to the high price of cars, driven by the shortage of semiconductors. For the sake of our economy, jobs and national security, we need to produce these semiconductors again in America. ”

The need for the CHIPS Act is therefore quite clear. Although it is clear that this will not have an immediate effect on US domestic production. It will take years before building new factories and improving existing ones for increase production. Not surprisingly, when Intel has recently two new facilities opened $ 20 billion in Arizona, the company said it would take about three years to complete construction of those plants. In any case, Biden’s signature has its own significance within the sector. Especially after the visit of Nancy Pelosi a Taiwan.