Biden Administration Finalizes $6.6 Billion In Chips Grants For TSMC (thehill.com) 13
The White House said it's completed a $6.6 billion grant agreement with Taiwan Semiconductor Manufacturing Company (TSMC) through the Chips and Science Act. "Today's announcement is among the most critical milestones yet in the implementation of the bipartisan CHIPS & Science Act, and demonstrates how we are ensuring that the progress made to date will continue to unfold in the coming years, benefitting communities all across the country," Biden said in a statement. The Hill reports: The grant is expected to create $65 billion of private investment by TSMC in Arizona, Biden said, which will include three new facilities and the creation of tens of thousands of jobs by the end of the decade. The first of the company's new facilities is on track to open next year. Biden earlier this year announced a slew of preliminary grant agreements with companies, including TSMC, through the CHIPS law. The announcement of a final agreement underscores how the administration is hoping to get those deals across the finish line before President-elect Trump takes office. [...]
Biden has repeatedly touted the importance of the CHIPS and Science Act, citing the prevalence of microchips that are used in everyday technology such as phones, cars, home appliances and more. Officials have said the law is critical to bolster domestic production of the chips to make the U.S. less reliant on foreign supply chains.
Biden has repeatedly touted the importance of the CHIPS and Science Act, citing the prevalence of microchips that are used in everyday technology such as phones, cars, home appliances and more. Officials have said the law is critical to bolster domestic production of the chips to make the U.S. less reliant on foreign supply chains.
He needs to get it through (Score:3, Interesting)
It is absolutely insane but we are probably going to let China take Taiwan Just due to sheer incompetence and we're not going to have a proper semiconductor industry before then. So they're basically going to be able to tell us what to do for a good 10 or 15 years if we're lucky... Either that or they wreck our entire economy.
It's as if nobody remembers what the semiconductor shortages did during COVID. Christ people have short memories around here.
Re: (Score:1)
That's not how contract law, or the contract clause of the constitution works.
Besides the one who isn't paying chips act money promised, is Joe Biden to Intel Corp
https://www.oregonlive.com/silicon-forest/2024/11/intel-ceo-blasts-biden-administration-over-chips-act-delays-blames-media-for-irresponsible-takeover-reports.html
Re: (Score:2)
Take your meds schitzo. Trump said that companies could avoid tariffs by moving production to America.
-Written on an Intel Xeon laptop CPU from USA.
Re: (Score:3)
TL;DR: Sit the hell down and Shut the fuck up idiot.
Will Trump pull a fully function (Score:3)
Trump will be dead and buried before there's any chance of us replicating what Taiwan has now. This isn't like throwing up some apartment buildings for fuck's sake. It'll be 10-15 *years*.
And without subsidies the companies won't do it. Go ahead, do 10,000% tariffs, they'll make you pay it. Because that's how tariff's work!!!
Re:He needs to get it through (Score:4, Insightful)
Why would he do that when he can just sit on his thumbs, let the grant go through, and then take credit for any jobs that appear because of it? His moron fans wont know any better. They'll just see "new jobs happened while Trump was in power" without bothering to check the cause of them. Just like people continue to credit the person in the oval office for how the economy is, ignoring that economic changes generally take longer than a presidential term to take full effect -- most of the time it's the previous guy who is responsible for how things are in current day.
Re: (Score:3)
2. He's a vindictive, petty man. Again, he literally pulled viral experts out of China just because Obama put them there.
We put a senile old man who thinks and acts at about a 4th grade level in charge of the country and we gave him control of the courts & Congress. We haven't actually come to terms with that yet.
This is the FAFO stage of our lives. I hope the dream of 99 cent eggs was worth it..
Re: (Score:2)
Little to no jobs? Intel's fab campuses emoloy thousands of people. So do TSMCs.
https://www.tsmc.com/static/ab... [tsmc.com]
TSMC claims they will employ ~6000 people in jobs related to their American fabs.