Biden To Congress: Pass The Bill To Fund US Chip Manufacturing

President Joe Biden called on Congress to pass the CHIPS Act, a law that would provide chipmakers with $52 billion in subsidies to advance semiconductor manufacturing in the United States, during his State of the Union speech Tuesday. From a report: Biden lauded Intel Chief Executive Pat Gelsinger, who last month announced a $20 billion investment for two new chip fabrication facilities, or fabs, that the company will build just west of Columbus, Ohio. Intel plans to spend $100 billion to build the Ohio "megafab" over the next decade, with an eventual total of eight fabs, but the speed of that investment will depend on the US subsidy, Gelsinger has said. "Intel's CEO, Pat Gelsinger, who is here tonight, told me they are ready to increase their investment from $20 billion to $100 billion. That would be one of the biggest investments in manufacturing in American history," Biden said. "And all they're waiting for is for you to pass this bill. ... Send it to my desk. I'll sign it." The Senate passed a bill funding the CHIPS Act in 2021, and the House of Representatives followed suit in February, but the differences in the bills haven't been ironed out in committee and the subsidy hasn't arrived despite some bipartisan support. The funding would help the US compete with government help in Taiwan and South Korea, where leading chipmakers Taiwan Semiconductor Manufacturing Co. (TSMC) and Samsung have the bulk of their operations. The US subsidies would knock about $3 billion off the $10 billion price tag for a new fab, a subsidy level Intel says matches those in Asia.

Read more of this story at Slashdot.