Lawmakers Tout Effect of CHIPs Act in US Competition with China

Lawmakers Tout Effect of CHIPs Act in US Competition with China
President Joe Biden (C) signs H.R. 4346, the CHIPS and Science Act of 2022, on the South Lawn of the White House on Aug. 9, 2022. Mandel Ngan/AFP via Getty Images
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Last August, President Joe Biden signed the Chips and Science (or CHIPS) Act into law, promising over $50 billion to domestic semiconductor manufacturers to boost domestic production and “counter China.” Pivotal in drafting and negotiating on behalf of the law was Sen. Mark Kelly (D-Ariz.), who beat out Republican candidate Blake Masters in the 2022 midterm elections.
“After over a year of hard work, our landmark microchip manufacturing bill is now law,” the senator said in a statement after the bill’s passage last year, adding that the measure would boost Arizona’s competitiveness in the chip industry and be a “big loss for China.”