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Congress Passes CHIPS Act With $39B for Semiconductor Plant Construction

July 28, 2022

Via: ENR

U.S. lawmakers voted to send a bill to President Joe Biden that would authorize, as part of $280 billion in spending, $52 billion to boost semiconductor chip manufacturing, including $39 billion toward construction of chip plants. The vote alleviated chipmakers’ concerns that a delay in the funding could slow their projects.

Known as the Chips and Science Act, the legislation would also provide tax breaks for chipmakers and billions of dollars more for research.

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