House Passes $280 Billion CHIPS Act Without China Provision, Sending Bill to Biden’s Desk

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The U.S. House of Representatives passed the CHIPS and Science Act on July 28, allocating funding for a bill now nearly two years old. The new legislation, which is now headed to President Joe Biden’s desk for signing, will allocate $250 billion in subsidies, tax breaks, and research grants to prop up the domestic semiconductor industry.

“Today, the House passed a bill that will make cars cheaper, appliances cheaper, and computers cheaper,” Biden said in a prepared statement. “It will lower the costs of every day goods. And, it will create high-paying manufacturing jobs across the country and strengthen U.S. leadership in the industries of the future at the same time.”

“The CHIPS and Science Act is exactly what we need to be doing to grow our economy right now. By making more semiconductors in the United States, this bill will increase domestic manufacturing and lower costs for families.”

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