The White House announced Wednesday President Joe Biden will sign the $52 billion CHIPS Act, which subsidizes the semiconductor industry and provides a 25% tax credit for companies that build facilities in the U.S., on August 9.
Platitudes from construction pros started piling in as soon as Congress passed the bill last week.
Richard Branch, chief economist for Dodge Data & Analytics, said the CHIPS Act will “keep the construction sector on sure footing as the economy slows over the next year.” He added Dodge is currently tracking nearly $33 billion in semiconductor fabrication plants still in the planning stages.
