On Wednesday, the White House said President Biden will sign the chip bill on Aug. 9. The Chip and Science Act will boost the U.S. semiconductor industry to compete against the CCP regime in Communist China. The bill will provide about $52 billion in government subsidies for semiconductor manufacturing and research, and $24 billion worth of investment tax credits for chip factories.
In addition, it will also authorize more than $200 billion over the next ten years to advance research and development. All this financial support to the U.S. chip industry will enhance US’s competitiveness against the CCP. The Bill has already been passed in the Senate and the House of Representatives and will officially become law after President Biden signs the Bill.
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