WASHINGTON – President Joe Biden next Tuesday will sign a bill to subsidize the U.S. semiconductor industry and boost efforts to make the United States more competitive with China, the White House said on Wednesday.
The legislation aims to alleviate a persistent shortage that has affected everything from cars, weapons, washing machines and video games. Thousands of cars and trucks remain parked in southeast Michigan awaitingchipsas the shortage continues to impact automakers.
A rare major foray into U.S. industrial policy, the bill provides about $52 billion in government subsidies for research and U.S. production of semiconductors. It also includes an investment tax credit for chi…
Keep on reading: Biden to sign bill to boost chipmakers, compete with China Aug. 9 – White House