The passing of the CHIPS and Science Act by the US Congress last week was significant for the US semiconductor industry as it will now receive $52 billion in subsidies and $24 billion in tax breaks scheduled for June 9 August are planned.
So far it was assumed that Joseph Biden (Joseph Biden) will sign the necessary documents this week, but for this action the timing is not as important as for US lawmakers who were about to go on vacation. Corresponding Reuters Citing statements from White House officials, Biden is expected to sign a package of legislation targeting chipmakers in the United States next week.
On Tuesday, the President of the United States said: “This legislation will reinvigorate our semiconductor manufacturing efforts here in America”. The initiative also includes $200 billion in funding to boost US research over the next decade, but funding has yet to be approved by law. Legislators had to reduce the range of subsidies in the interest of expeditious passage of the law, since building companies takes time and potential recipients of funds from the budget were already in a hurry to identify the sources of funding for their projects United States.