Biden to sign $280B CHIPS act in bid to boost US over China
WASHINGTON — President Joe Biden on Tuesday signed a $280 billion bipartisan bill to boost domestic high-tech manufacturing, part of his administration’s push to boost U.S. competitiveness over China.
“The future of the chip industry is going to be made in America,” Biden said in a sweltering Rose Garden ceremony Tuesday, referring to the diminutive devices that power everything from smartphones to computers to automobiles. The legislation sets aside $52 billion specifically to bolster the U.S. computer chip sector.
The White House sought Tuesday to begin selling the immediate impacts of the semiconductor measure, noting that Micron, a leading U.S. chip manufacturer, will announce a $40 billion plan to boost domestic production of memory chips, while Qualcomm and GlobalFoundries will unveil a $4.2 billion expansion of an upstate New York chip plant.
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