President Joe Biden signed a decree on Thursday to enact the Semiconductor Scheme Subsidy Act and $52.7 billion in research, writing the agency with reference to a White House report in Washington.
Earlier this month, Biden signed a package of CHIPS and Science Act laws aimed at increasing the United States' competitiveness in science and technology. By subsidizing the production of microschematics in the United States and increasing research funding, the implementation of the law is expected to reduce the deficit of components that affected all sectors of the world economy.
The CHIPS and Science Act package also includes tax incentives for chip factories for $24 billion. The White House announced that the US Department of Commerce had launched CHIPS.gov and that funding would begin.
The Biden Decree sets six main priorities for the implementation of the Act and establishes an inter-ministerial council for its implementation from 16 participants, co-chaired by Brian Disa, Director of National Economy, and will include the Secretary of Defense, the Secretary of State, the head of the Department of Commerce, the Treasury, and the heads of the U.S. Ministries of Labour and Energy.