"Your CHIPS Act is a horrible, horrible thing. We give hundreds of billions of dollars. And it doesn't mean a thing," Trump said of the CHIPS and Science Act adopted in 2022 with bipartisan support.
The article from WXXI News discusses former President Donald Trump's push to repeal the CHIPS and Science Act, which has left New York leaders perplexed. The Act, signed into law by President Joe Biden, aims to boost domestic semiconductor production through significant investments, including $52 billion in subsidies for chip manufacturing. Trump's criticism stems from his claim that the Act benefits foreign companies, particularly those from South Korea and Taiwan, rather than American firms. However, New York leaders, including Senator Chuck Schumer, argue that the Act is crucial for job creation and economic growth in the state, with projects like Micron's planned $100 billion investment in a new semiconductor plant in Clay, New York. They highlight that the Act supports national security by reducing reliance on foreign chips and fosters innovation and high-tech job opportunities. The contention around the Act reflects broader political debates on economic policy and national security.
Science & Technology
Wed, March 5, 2025
