The US House of Representative passed the China Competition Bill that would help to boost US chip making;
The bill would provide:
- $52 billion over five years to boost semiconductor research, design and manufacturing in the United States, according to a summary of the bill provided by House Democrats.
- It would also provide $45 billion over six years in grants and loans to improve the nation's supply chains and to boost American manufacturing of goods deemed critical for national security and the US economy -- like products for public health, communications technology and food -- according to the summary.
- It would set aside another $3 billion for the nation's solar manufacturing supply chain, aiming to reduce the country's reliance on China for parts.
Intel and other chip manufacturers have pledged to build facilities in the US to increase domestic production of US manufactured chips. They of course are looking for help from the Fed. Government toward those ends. The US senate passed a similar bill last year. The two bills must now be joined together.
