There’s a new Commerce Department chip website, too.
Biden officiallyinto law two weeks ago, but Thursday’s order sets the sweeping American innovation project into motion. Biden’s swift implementation signals the administration’s urgency to boost US competitiveness against China and alleviate an incessant chip shortage that’s affected a wide variety of industries like automakers and gaming devices.
It’s still unclear when the Commerce Department will officially make its $52 billion in semiconductor subsidies available to manufacturers. But Biden’s latest order establishes a new interagency council led by National Economic Director Brian Deese to oversee the funding’s rollout. The order also identifies six administration priorities for the funding, including “rigorous” application reviews and focusing on national security needs.
It took nearly two years and a handful of title and text changes for Congress to approve the CHIPS and Science Act, and the patience of manufacturers was waning as the bill stalled over the summer.
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