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Senate passes massive package to boost U.S. computer chip production
[....] The 64-33 vote represents a rare bipartisan victory a little more than three months before the crucial November midterms; 17 Republicans joined all Democrats in voting yes. The package, known as "CHIPS-plus," now heads to the House, which is expected to pass it by the end of the week and send it to President Joe Biden for his signature.
[....] The centerpiece of the package is more than $50 billion in subsidies for domestic semiconductor manufacturing and research.
Supporters on Capitol Hill, as well as key members of Biden's Cabinet, have argued that making microchips at home — rather than relying on chipmakers in China, Taiwan and elsewhere — is critical to U.S. national security, especially when it comes to chips used for weapons and military equipment.
[...] The final chips bill is a slimmed-down version of a much broader China competitiveness package that House and Senate lawmakers had been negotiating. Earlier, the Senate passed its bill, known as USICA, while the House passed its own version, the America COMPETES Act. But lawmakers couldn't resolve their differences, and leading Democrats decided to switch their strategy and scale back the legislation.
The package also includes tens of billions more in authorizations for science and research programs, as well as for regional technology hubs around the country.
If passed, will this be well spent? Will the US actually be globally competitive in chip manufacture?
(Score: 3, Flamebait) by Rosco P. Coltrane on Friday July 29 2022, @03:36PM (3 children)
Isn't that socialism? Aren't companies supposed to make it on their own without any help from the state?
Because as we all know, not a single cent of the taxpayers' money is ever distributed free of charge to private concerns in the US. If it was, the people would be up in arms!
(Score: 2, Insightful) by Anonymous Coward on Friday July 29 2022, @03:37PM (1 child)
You're 1/2 right. When the profits come, they won't be shared so it's not socialism. So that's good.
(Score: 4, Funny) by Gaaark on Friday July 29 2022, @03:54PM
The drool down effect?
:)
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 0) by Anonymous Coward on Friday July 29 2022, @10:26PM
It's only socialism when subsidies are given to companies and industries you don't like. When you give money to a poor person, that's socialism because they need to pull themselves up by the bootstraps and work. When you give money to farmers, that's protecting the American way of life and giving Monsanto and ADM a hand up, not a hand out. Welfare is in the eye of the beholder.