Can U.S. Lawmakers Help Boost Semiconductor Investment and Production?
The global semiconductor manufacturing shortage has made its rounds in the news in the last few months. Both the tech sector and portions of the U.S. House and Senate have made it a priority to address a lack of research, manufacturing and investing, to combat a massive shortage within the U.S. and worldwide.
Yesterday, a bipartisan group called upon President Joe Biden to allocate more funding towards prioritizing semiconductor manufacturing and research in the coming years. In particular, this group focused on the CHIPS For America Act, legislation aimed at reviving the American semiconductor industry. Biden recently noted that this act would pump $50 billion into the U.S. semiconductor industry, if passed by Congress.
Much of the recent interest into reinvesting into the U.S. semiconductor industry has been brought about due to the need to compete with China and Taiwan when it comes to chip manufacturing. This goes along with a growing need to supply automobile and electronics companies with domestic chip production.