U.S. lawmakers look to carve off chips funding to speed passage -Raimondo

Author of the article: WASHINGTON — U.S. Secretary of Commerce Gina Raimondo said on Wednesday that lawmakers appear to be moving to carve off $52 billion in semiconductor chips manufacturing subsidies from a larger bill on boosting U.S. competitiveness with China. “Things seem to be coalescing around the path of chips, or maybe chips plus…
U.S. lawmakers look to carve off chips funding to speed passage -Raimondo

Author of the article:

WASHINGTON — U.S. Secretary of Commerce Gina Raimondo said on Wednesday that lawmakers appear to be moving to carve off $52 billion in semiconductor chips manufacturing subsidies from a larger bill on boosting U.S. competitiveness with China.

“Things seem to be coalescing around the path of chips, or maybe chips plus a thing or two, and getting it done this month,” Raimondo told Reuters in a telephone interview. “It seems like that’s what Congress is coalescing around.”

A smaller bill could also include investment tax credits for semiconductor manufacturing, she said, but emphasized that discussions are very fluid. “That is a good outcome because the worst outcome is getting nothing done by Aug. 4,” when Congress leaves for summer recess, she said. (Reporting by David Shepardson; Editing by Leslie Adler)

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