US Congress Moves Toward $52 Billion in Subsidies for Semiconductor Firms
The Senate this week took a key step toward passing a bill meant to provide $52 billion in subsidies to the semiconductor industry in the United States, part of an effort that lawmakers have characterized as protecting the country from supply shortages such as those that struck during the coronavirus pandemic. The bill, called the CHIPS for America Act, also seeks to make the U.S. more competitive with China. Semiconductors, commonly known as chips, are essential elements of modern manufacturing. They are used in computers, cellphones and automobiles as well as in various other capacities. During the pandemic, chip shortagesmore
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