U.S. President Biden will sign the Semiconductor Subsidy Act next week

U.S. President Biden will sign the Semiconductor Subsidy Act next week

The adoption of the CHIPS and Science Act last week by the U.S. Congress was important for the American semiconductor industry, as it will now receive $52 billion in subsidies and $24 billion in tax incentives. The final step in legitimizing this initiative will be the signing of a package of laws by the President of the United States, scheduled for 9 August.

So far, Joseph Biden has been expected to sign the necessary documents this week, but the timing is not as important for this action as in the case of U.S. parliamentarians who are about to go on vacation. According to Reuters, with reference to White House officials' statements, Biden is required to sign a package of laws on the granting of targeted subsidies to chip producers in the U.S. territory next week.

On Tuesday, the President of the United States announced that the initiative would also provide $200 billion to stimulate research in the United States over the next 10 years, but that funding had not yet been approved at the legislative level.