Senate passes CHIPS Act to subsidize domestic semiconductor production

The United States Senate today approved the CHIPS Act, with a 64-33 vote, following yesterday’s cloture passage. The bill, which includes $52 billion to subsidize domestic semiconductor production, now moves onto the House for debate. The current bill bears more than a passing resemblance to the United States Innovation and Competition Act, which also passed through the Senate before petering out in the lower congressional chamber.
The bill is a reaction to the on-going global chip shortage, itself a result of a confluence of international crises, including the pandemic, tense U.S.-China

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