US (sort of) passes Chips Act

There now follows a period when the Senate and the House seek to reconcile the differences between their two versions of the bill.

The combined version will then have to be voted on again to become law.

If passed the Act would provide $52 billion for semiconductor investment.

The bill, as currently constituted, would establish a role of Chief Manufacturing Officer in the White House’s executive branch and create nearly one million additional apprenticeships over the next five years.

Only one Republican, Representative Adam Kinzinger of Illinois, supported the bill.

Ohio Senator Sherrod Brown, a Democrat, asserted that many Republicans have “been in the pockets of corporations that move jobs to China, so they really don’t want to change. “They talk a good game, but in the end, they stood up in support of outsourcing those jobs, they stood up in support of those trade agreements. But this bill is really important. It’s going to matter for the Intel investment. It’s going to matter for bringing jobs back here.”

Tomorrow the EU publishes its proposals for a $48 billion Chips Act. There are already disputes over where the money would come from.

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