Friday, July 29th 2022
US Congress Passes the CHIPS and Science Act
As The CHIPS and Science Act of 2022 heads to President Biden's desk for his signature, following its passage in Congress, OSTP's Dr. Alondra Nelson is releasing the following statement: "The bipartisan CHIPS and Science Act of 2022 is the most significant American investment in science, technology, and innovation in a generation. It will revitalize and advance U.S. leadership in science and technology, spur U.S. competitiveness and economic development, and bolster our domestic semiconductor supply chains. Most important, it will deliver opportunities for Americans all across the nation.
For working Americans, the stakes of this legislation could not be higher. Semiconductor chips power our daily lives, from the telecommunications that keep us all connected, and medical devices that keep our loved ones alive, to financial institutions that help secure our families' futures, and the computers from which millions of Americans run their businesses. They are a door to a future of innovation, progress, and economic security.
The CHIPS and Science Act opens that door and delivers a transformative investment in that future. For the American people, this legislation means addressing the supply chain shortage, driving future American innovation, and delivering nearly 100,000 good paying jobs to communities across the United States.
By accelerating the development of key technologies—like artificial intelligence, quantum information science, advanced manufacturing, and clean energy technologies—this legislation will help keep Americans safe and allow America to continue shaping global markets. It will also help build the research infrastructure to seize the opportunities and confront the challenges of the future with commitments to the National Science Foundation, the Department of Commerce including the National Institute of Standards and Technology, the Department of Energy, and the National Aeronautics and Space Administration.
This historic legislation will also transform our research investments in science, technology, engineering, and mathematics (STEM) education and help prepare the next generation of STEM leaders. These investments will drive opportunity and equity for learners, educators, and researchers at minority-serving and emerging research institutions and in rural communities, as well as broaden participation to include people of all backgrounds and experiences, enabling the creation of a STEM ecosystem that looks like and benefits all of America.
The CHIPS and Science Act meets the magnitude of the challenges facing the American people today, while ensuring global leadership for years to come.
Put simply, this bill delivers on a core Biden-Harris Administration commitment: Science is back."
Source:
The Whitehouse
For working Americans, the stakes of this legislation could not be higher. Semiconductor chips power our daily lives, from the telecommunications that keep us all connected, and medical devices that keep our loved ones alive, to financial institutions that help secure our families' futures, and the computers from which millions of Americans run their businesses. They are a door to a future of innovation, progress, and economic security.
By accelerating the development of key technologies—like artificial intelligence, quantum information science, advanced manufacturing, and clean energy technologies—this legislation will help keep Americans safe and allow America to continue shaping global markets. It will also help build the research infrastructure to seize the opportunities and confront the challenges of the future with commitments to the National Science Foundation, the Department of Commerce including the National Institute of Standards and Technology, the Department of Energy, and the National Aeronautics and Space Administration.
This historic legislation will also transform our research investments in science, technology, engineering, and mathematics (STEM) education and help prepare the next generation of STEM leaders. These investments will drive opportunity and equity for learners, educators, and researchers at minority-serving and emerging research institutions and in rural communities, as well as broaden participation to include people of all backgrounds and experiences, enabling the creation of a STEM ecosystem that looks like and benefits all of America.
The CHIPS and Science Act meets the magnitude of the challenges facing the American people today, while ensuring global leadership for years to come.
Put simply, this bill delivers on a core Biden-Harris Administration commitment: Science is back."
52 Comments on US Congress Passes the CHIPS and Science Act
This does not help the US consumer in the least bit; in fact we get to foot the bill to fund Intel's R&D budget for the next couple of years.
However, having the fabs locally doesn't mean much, if you still have to haul your raw materials from potentially problematic countries.
But, as we all know, hindsight is 20/20 :D
The thing is, the west was outsourcing production for like everything for decades now to Asian and other countries. The only thing that's flourishing in our countries is low wage jobs. We now reached the tipping point where globalization is backfiring for western companies & they try to revert it. Globalization was already hitting the average folks hard the last decades, but the governments didn't care. It's just people with zero influence. But now as companies cry they care, lol. This world is so laughable.
Every de-globalization is a step into the right direction. Local pay, local spend, "trickle-up-effect". Which works, unlike the "trickle-down-effect" scam theory where only the upper class benefits.
What we need is "Rise-Up Economics":
Only one who'd miss on this pie would probably be TSMC, with all the "don't invest in China" strings that come attached. Somewhat amusing too, after all their urging for the approval of this subsidy.Careful now! Uncle Milty's fanbois might just nudge your local military to put an end to this tyrannical statism.
It's good you realise that trickle down doesnt work. Maybe dont vote for the politicians who support this, given they are also linked to wages decreasing.
I am not yet aware of everything in this bill, but I think its has higher than normal potential for disaster for the market.
If you don't understand basic global economics, you should keep it low. And insult others for their fact based opinions as "facists" (with your #1 post) isn't the way either.
The effect of voting is very variable from country to country, based on the financial influence. And every educated knows how much political influence you get with money, esp. in the US.
Congress and Science? The only chip's those fecks know about come with salsa on them.
Here's a thought, get out of producers wallets and let them build product... just a thought.
Globalization has moved low income jobs to other countries while leaving the high paying ones here, not taken higher paying ones and leaving the west with low wage ones.
It's created a divide between the have and have nots as you need to have skills to be a high wage earner.... anyone without skills are regulated to low wage jobs, eroding the middle class in the process. Truth be told, those job you think would have paid better would have simply had to lower their wages substantially or go out of business if they didn't export them to Asia.
In my experience, its those that have low education that think voting power is diminished in capitalistic societies. As those are the people in low wage jobs feeling betrayed by the current system.
For future reference, don't belittle someones expertise on a subject when you, yourself are not an expert.
And who did I "belittle"? Did you even read the posts? Wasn't me who dropped the sentense "I only signed up because you are talking absolute rubbish. Mostly because its dangerous facist fantasy rubbish."
Feels like there are fake accounts running hot & spreading nonsense.
Favorite catchphrase from a conman who sold the US on the elixir that is globalization.This will only help Intel & their greedy stockholders! Sure it could benefit US in the long run but why shouldn't this money go to AMD then? Will Intel stop buying chips from TSMC after getting the subsidy or is AMD being punished for doing much better with much less($) at their disposal?The globalization BS started before the cold war but yes the end of it accelerated outsourcing ~ the cure to that though is not bringing everything back home, it's probably to tax the hell out of these profitable ventures & IMO cap executive bonuses!
A bill that will create jobs and decrease foreign dependency. Hmm, gotta be bad if the I word is involved! You guys crack me up.
But yes, there is a real risk of the latter turning into the former.
semianalysis.com/intel-cuts-fab-buildout-by-4b-to-pay-billions-in-dividends-first-net-loss-in-over-30-years-cutting-fab-buildouts-but-committed-to-growing-the-dividend/
They only want the bailout so they can keep paying dividends and not pay for their own manufacturing fabs. This is highway robbery pure and simple!!!
seekingalpha.com/news/3857463-advanced-micro-devices-qualcomm-nvidia-may-oppose-chips-act-for-lack-of-subsidies-report