"During Trump's Presidency, 200,000 Jobs Offshored and Corporations Involved Awarded $425B in
Federal Contracts"...nice try at misinformation, Ned, but the facts don't back you up. As always, Trump Lies...and you support him. Either you're a poor researcher of relevant facts, or you actively obfuscate the truth...which is it?
In contrast, when Joe Biden won the Presidency, his administration crafted a Bipartisan, much needed CHIPS Act to not only strengthen domestic manufacturing of critical semiconductors, but helped blunt China's ascendence in this National Security arena...here's more on Biden's CHIPS Act...
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AI Overview
President Biden's CHIPS and Science Act (signed into law in August 2022) is important because it funnels roughly $280 billion (including $52.7 billion in direct appropriations) into domestic semiconductor manufacturing, research, and workforce training. [1, 2]
Key Reasons Why the Act is Important
- Rebuilding Domestic Manufacturing: The U.S. share of global semiconductor production dropped from nearly 40% in 1990 to roughly 10%, with almost no production of the most advanced chips. The act aims to reverse this trend and position the U.S. to manufacture nearly 30% of the world's leading-edge chips by 2032. [1, 2]
- National Security & Supply Chain Resilience: The U.S. previously relied heavily on East Asia—particularly Taiwan—for over 90% of its most advanced microchips. Reducing this reliance helps protect the U.S. economy and defense systems (such as weapons, vehicles, and communications) from geopolitical disruptions. [1, 2, 3]
- Countering China: The law restricts companies that receive CHIPS funding from expanding advanced manufacturing operations in China for 10 years, serving as a pillar of competition in critical technologies like artificial intelligence and quantum computing. [1, 2]
- Massive Private Sector Investment: The federal incentives have triggered hundreds of billions of dollars in parallel private-sector commitments from major global and domestic chipmakers (such as Intel, TSMC, and Samsung) to build state-of-the-art fabrication facilities ("fabs") across the U.S. [1, 2]
- Broader Science & R&D Funding: Beyond chips, the legislation authorizes billions for multi-agency research into artificial intelligence, robotics, clean energy technology, and STEM workforce development. [1, 2, 3]
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