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President Biden signs China competition bill to boost U.S. chipmakers — 8/9/22

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President Joe Biden on Tuesday is ready to signal a bipartisan invoice that goals to strengthen U.S. competitiveness with China by investing billions of {dollars} in home semiconductor manufacturing and science analysis.

Tech executives, union presidents and political leaders from each events will be part of Biden at a ten a.m. ET signing ceremony, the White Home mentioned.

The invoice, dubbed the Chips and Science Act, contains greater than $52 billion for U.S. corporations producing pc chips, in addition to billions extra in tax credit to encourage funding in semiconductor manufacturing. It additionally offers tens of billions of {dollars} to fund scientific analysis and improvement, and to spur the innovation and improvement of different U.S. tech.

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President Biden indicators China competitors invoice to spice up U.S. chipmakers — 8/9/22

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