The U.S. authorities finally approved the chips law – Intel and others will get $52 billion in investment

The U.S. authorities finally approved the chips law – Intel and others will get $52 billion in inves

The United States Congress finally approved a long-awaited law to inject $52 billion into the local semiconductor industry. This should help to overcome the paraconductor deficit, strengthen the U.S. position in the world market, and ensure technological sovereignty by reducing dependence on Taiwan.

The majority vote of the House of Representatives passed the CHIPS and Science Act Bill, which provides for a total cost of $280 billion, $52 billion of which will be spent on subsidies for chip manufacturers, which is expected to involve companies in the construction of semiconductor plants in the United States.

The COVID-19 pandemic has had a marked impact on many industries, but it has particularly affected businesses that use multiple microchips for different purposes. The demand for electronics, such as laptops, tablets and game consoles, has gone up because people have spent a lot of time at home.

The crisis has inspired American lawmakers to take the initiative to create conditions for the construction of semiconductor plants in the United States, the hiring of American workers, and, of course, the primary supply of products for the local market.

CHIPS and Science Act is the final version of a bill that has survived many textual and meaningful amendments since the concept was first released in 2019. The first version was called Endless Frontier Act, last summer the local Senate approved an updated version, US Innovation and Competition Act, after a series of changes.

As a result, local Congressmen have prepared a smaller CHIPS and Science Act, which has had to give up some ambitions, but it does provide multibillion-dollar support to the industry.

In addition to subsidies for chip production, the law will make $10 billion available to the Department of Commerce for state and settlement grants for the construction of "regional technological habes" in the country, which are intended to become "mini-silicon valleys" for the territories affected by industrial globalization. An additional billions of dollars will also be allocated to the United States National Science Foundation for Semiconductor Research and Human Resources Development Programmes.

The bill has not yet been signed by President Joe Biden of the United States, but there is no doubt about its approval — he has repeatedly expressed support for the CHIPS Act and related initiatives, rushing legislators to implement the project.