Biden Strategically Protects Chip Subsidies From El Cheato
President Biden is locking down whatever he can before the chaos. He just finalized a $6.6 billion award for the Taiwan semiconductor giant that is building massive factories in Phoenix, amid concerns Trump will slash the subsidies aimed at fostering our domestic chip industry. Via The Arizona Mirror:
“This is a gigantic announcement,” Secretary of Commerce Gina Raimondo told reporters on a call ahead of the announcement early Friday, 10 days after Trump’s election.
“This will be one of the most important investments that we make as a country to advance our economic and national security,” she said.
The Taiwan Semiconductor Manufacturing Company plans to invest $65 billion on three state-of-the-art fabrication plants, or fabs, that mean thousands of jobs in Arizona.
Semiconductors are used in chips that make computers work, along with cell phones, fighter jets, self-driving cars, artificial intelligence and even ovens.
For the next two months, the Biden administration will be finalizing more awards, ensuring the progress they've made will carry on.