Lawmakers Tout Effect of CHIPs Act in US Competition with China

Last August, President Joe Biden signed the Chips and Science (or CHIPS) Act into law, promising over $50 billion to domestic semiconductor manufacturers to boost domestic production and “counter China.” Pivotal in drafting and negotiating on behalf of the law was Sen. Mark Kelly (D-Ariz.), who beat out Republican candidate Blake Masters in the 2022 midterm elections.
“After over a year of hard work, our landmark microchip manufacturing bill is now law,” the senator said in a statement after the bill’s passage last year, adding that the measure would boost Arizona’s competitiveness in the chip industry and be a “big loss for China.”…}