New conditions imposed by the Biden administration threaten to negate the effects of massive subsidies for semiconductor chip manufacturing that Congress enacted in an effort to ensure that the US is not at the mercy of China for key technologies.
chip manufacturing that Congress enacted in an effort to ensure that the United States is not at the mercy of China for key technologies.opened applications on Tuesday for companies to receive subsidies funded by the CHIPS Act, a bill passed in July 2022 that provides for $53 billion in funding for chipmakers to help the U.S. compete with China.
While the bill was passed with bipartisan support, the Biden administration attached several new guidelines to the applications that promote Democratic social causes. Companies receiving the subsidies will be required to provideCommerce Secretary Gina Raimondo has touted the strings attached to the funding as a means of advancing the administration's broader agenda for the workforce and domestic industry.
"CHIPS won’t be successful unless we expand the labor force. We can’t do that without affordable child care," she."That’s why we’re requiring companies that receive funding to tell us how they plan to provide affordable child care for workers." But critics warn that the conditions could raise the cost of setting up new factories to such an extent that it could undercut the point of the bill, which passed with the support of Republican senators like Mitch McConnell and Nebraska's Ben Sasse, who thought it worthwhile to develop domestic production.
"Taxpayers are really getting a raw deal," Scott Lincicome, the director of general economics at the libertarian Cato Institute, told theCompanies would also be pushed to detail their relationships with unions, offer additional training for those pursuing future employment outside the company, purchase supplies from domestic producers, and ensure compliance with the National Environmental Policy Act.
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