12 Days: Biden’s Signature CHIPS Act Spurs Investments and China Concerns

On the one year anniversary, the White House touted investment of one-hundred-and-66 billion dollars.

12 Days: Biden’s Signature CHIPS Act Spurs Investments and China Concerns
Illustration by DALL-E

December 27, 2023 — August 2023 marked the one year anniversary of President Joe Biden’s signature law, the CHIPS and Science Act. On that occasion, the White House touted $166 billion dollars of new semiconductor investments and manufacturing projects into the United States.

As both Biden and Commerce Secretary Gina Raimondo have been quick to note, American ingenuity invented the semiconductor. But today, the U.S. currently produces only 12 percent of the world’s supply, none of which are the most advanced. This is down from 40 percent in 1990.

The 12 Days of Broadband 2023 (click to open)

The CHIPS Act provides $52 billion to incentivize chip companies to build factories in the U.S., aiming to reduce reliance on Asia for the crucial components used in everyday electronics. Over the summer, during the one-year anniversary, Biden administration officials touted investment commitments from companies like Micron, IBM and Wolfspeed.

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