U.S. Energy Secretary Jennifer Granholm praised Congressional passage of CHIPS and Science Act.
“We are grateful for the leadership of both President Biden and Congress in taking action to boost our national security, bring manufacturing home, lead the global economy, and create high-quality jobs across our nation,” she said in a statement. "This legislation invests over $50 billion in the domestic manufacturing of semiconductors and microchips—which go into our cell phones, cars, computers, energy technologies and more. That means Americans will be buying and using core technologies made here at home, with American parts and labor."
The legislation also allocates $67 billion to the U.S. Department of energy for "cutting-edge research and development in clean energy to fight the climate crisis and advanced computing and manufacturing to boost American competitiveness," Granholm said.
It also provides investment in for the national laboratory infrastructure and establishes the Foundation for Energy Security and Innovation, which will "Help our Department deepen partnerships to create and deploy technologies that will power the industries of the future, from clean energy to modern medicine," Granholm said.
The bill will provide subsidies to the U.S. domestic semiconductor industry to help it compete with manufacturers in China and other countries, Reuters reported. It also authorizes more than $170 billion over the next five years for scientific research to better compete with China, the story said.
