Does the CHIPS Act provide the Helpful Incentives the U.S. needs?
On July 27th, the Senate passed the CHIPS and Science Act of 2022. It is now awaiting President Biden's signature. Proponents of the bill say it will reduce U.S. dependence on foreign producers of semiconductor chips by building manufacturing capabilities at home. Skeptics – which oddly include both progressive Vermont Senator Bernie Sanders and conservative Republicans – say it amounts to "corporate welfare." So who is right?
The CHIPS in the CHIPS Act stands for 'Creating Helpful Incentives to Produce Semiconductors.' But are the incentives, and the resulting changes, actually "Helpful" for…
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