Chipmakers Cut Investments After Subsidies — Shame On You!
The biggest US chipmakers are slashing billions of dollars from planned capital spending — just when the US government has passed a law to subsidize a huge increase in domestic chip manufacturing capacity.Covid has been awful, with its shutdowns, social isolation, work stoppages, and scary sickness. The resulting inflation due to supply chain intermittency has caused global political crises.
This is the same Congress that legislated for decades for global commerce relationships, which translated into US manufacturing to go overseas and factory work inside the US to plummet. In 1965, manufacturingRegardless of the no-strings-attached measure, President Joe Biden signed CHIPS+ into law. “Semiconductor chips are the building blocks of the modern economy — they power our smartphones and cars,” said President Biden before the legislation was formally approved by the Senate. “And for years, manufacturing was sent overseas. For the sake of American jobs and our economy, we must make these at home.”
And for years, manufacturing was sent overseas. For the sake of American jobs and our economy, we must make these at home.Why Infrastructure Investment in Chips is Crucial
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