President Biden Signs CHIPS and Science Act to Boost Domestic Tech Manufacturing

President Joe Biden plans to sign the CHIPS and Science Act into law on Tuesday, Aug. 9, allocating billions of dollars to US semiconductor research and manufacturing, according to the White House. “The future of the microchip industry will be made in America,” Biden said at a White House press conference. In a statement, the White House said this was part of Biden’s plan to strengthen the U.S. economy while leveling the playing field for manufacturing with China. “The share of modern semiconductor manufacturing capacity in the United States has fallen from 37% in 1990 to 12% today, largely because governments in other countries have provided incentives for chip manufacturing. , and the U.S. government did not,” he said, calling the passage “a big win for our country.” Credit: The White House via Storyful