Intel Shows Limits of Chips Act- Newshubweek

Intel Shows Limits of Chips Act
Written by Arindam

There is a rich irony to the notion that U.S. lawmakers rescued a giant subsidy package for the semiconductor industry just as the country’s largest chip maker proved the limits of such measures.

On Thursday afternoon the House of Representatives passed the bill widely known as the Chips Act, clearing the way for President Biden to sign into law a measure that will provide about $53 billion in direct financial assistance for the construction of chip fabrication facilities in the U.S. The bill was considered a long shot less than two weeks ago as more-urgent matters such as soaring inflation, the war in Ukraine and the coming midterm elections took the attention of lawmakers.

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