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The CHIPS Bill: Strange Mix

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The CHIPS Bill: Strange Mix
House Speaker Nancy Pelosi, alongside House Democrats, holds the CHIPS for America Act, providing domestic semiconductor manufacturers with billions in subsidies to cut reliance on foreign sourcing, after signing it during an enrollment ceremony outside the U.S. Capitol in Washington on July 29, 2022. Saul Loeb/AFP via Getty Images
Milton Ezrati
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Commentary

Washington has rushed to save computer chipmaking in the United States and has found $280 billion for the project. Even by the standards of modern Washington, that’s a sizable sum. And as is typical of federal practice, the new legislation is about a lot more than manufacturing semiconductors.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."
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