CHIPS Act May Receive Boost from Defense Bill

WASHINGTON, Dec. 9, 2024 – More money may be headed to America’s semiconductor industry, as lawmakers push for additional funding in the National Defense Authorization Act for fiscal 2025.

In the defense bill set to pass before the end of the year, Sen. Maria Cantwell, D-Wash., a key architect of the CHIPS and Science Act, secured up to $500 million in additional funding for the Tech Hubs program.

This initiative was designed to stimulate regional innovation by creating hubs of semiconductor manufacturing and research across the country. The tech hubs focus on industries ranging from autonomous systems, quantum computing, biotechnology, precision medicine, clean energy advancement, semiconductor manufacturing, and more.