Frustrated with Congress, Intel delays chips groundbreaking ceremony

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Frustrated with Congress, Intel delays chips groundbreaking ceremony
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Intel is postponing a ceremony to celebrate its planned $20 billion chip site in Ohio, as Congress stalls on passing a package meant to boost investment in the domestic semiconductor industry.

on lawmakers to pass the legislation, now known as the Bipartisan Innovation Act, that includes the $52 billion in funding for domestic manufacturing.

The issue has increased urgency thanks to the pandemic-induced global chip shortage, with the Commerce DepartmentGlobalFoundries, which is exploring expanding a manufacturing site in New York, that the funding would affect the rate and past it invests in increasing U.S. manufacturing capacity.Lawmakers are working toward a compromise on House and Senate versions of the legislation as the August recess looms.

"Every day we waste by not passing the CHIPS Act funding is another day we fall further behind in our competition with China," Rep. Tim Ryan , said in a statement. "This partisan gridlock has now caused a delay of a $20 billion economic shot in the arm for Ohio. It’s time our leaders in Washington find the courage to put aside their differences and ensure our country has a fighting chance at dominating the industries of the future.”

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