Regarding the chip crisis that broke out with the coronavirus pandemic, US President Joe Biden signed a decree today regarding the implementation of the CHIPS law. With the law in question, it is aimed to alleviate the chip shortage that causes disruption in production in many sectors from automobiles to electronics.
52 BILLION DOLLARS INVESTMENT
According to a written statement from the White House, Biden signed a decree today regarding the implementation of the CHIPS law.
With the aforementioned decree, a 16-member implementation council will be established and will be co-chaired by National Security Advisor Jake Sullivan, National Economic Council Director Brian Deese, and White House Acting Science and Technology Policy Director Alondra Nelson.
The decree, which also points out Biden’s priorities regarding the said law, also includes an article to supervise investments of $52 billion in chip production in the country.
ENTERED INTO FORCE ON AUGUST 9
The aforementioned CHIPS and Science Act was signed by US President Joe Biden on August 9 and entered into force.
The law, aimed at increasing domestic semiconductor production, aims to alleviate the chip shortage that has caused production disruption in many sectors from automobiles to electronics.
The law includes approximately $52 billion in subsidies for semiconductor manufacturing, as well as a 25 percent tax cut for 4 years to encourage the establishment of semiconductor factories.
Source: AA