The Senate Approved A Bill To Stimulate The Production Of Chips In The United States
The US Senate by a majority of 2/3 votes supported the bill with the telling name CHIPS, to support the production of semiconductors in the United States. It provides for the allocation of more than $ 54 billion to stimulate American companies specializing in the design and development of chips. About $100 billion more will be directed to the development of new technologies in this area. The Senate believes that the project will reduce US dependence on China.
Supporters of the bill say it is vital to America’s economy and national security to produce more chips, which are becoming increasingly important components of everyday household items such as consumer electronics and cars, as technology continually improves and requires more electronic components.
But the chips have been in short supply lately due to sudden shifts in consumer demand related to the Covid-19 pandemic. And the US share of global chip production has plummeted in recent decades, while China and other countries have invested heavily in the industry.
