The US Invest Over 200 Billion dollars in chip manufacturing
a global shortage of microchips US. President Joe Biden on Tuesday signed into law a multibillion-dollar bill to boost domestic production of semiconductors and research hoping to counter fears that the country is losing its technological edge to China the Chips and Science Act provides around 52 billion US Dollars to promote the production of microchips.
Billions more have been allocated for scientific research and development. President Biden called it a once-in-a-generation investment in America itself.
Also, Read- ANGELA YEE SAYS ‘THE BREAKFAST CLUB’ IS OVER
President Joe Biden’s Press conference spech
This increased research and development funding to ensure the United States leads the world in the industries of the future from quantum computing to artificial intelligence to advanced biotechnology kinds of investments that will deliver vaccines for cancer cures for HIV and invent the next big thing that hadn’t even been imagined yet.
The bill also includes a 25% investment tax credit for cheap plans estimated to be worth $24 billion. $200 billion has also been authorized over ten years to boost the US. Scientific research. To better compete with China congress would still need to pass separate legislation to fund those investments. But what is a semiconductor? They are microchips. Tiny but powerful. From operating your phone or washing machines and cars to sophisticated weapons they are a vital piece of almost every modern piece of machinery.
Although the semiconductor was invented in the United States the country only produces less than 10% of global supplies. Taiwan and South Korea are the world’s leading producers of these microchips. As a November midterm elections approach Biden will count on the Chip’s Act to generate enthusiasm among voters as the Democratic Party tries to defend a theme congressional majority.
