Business

Biden Will Need More Than $52 Billion for Chip Effort

Today News ||

White House report recommendation Key provisions 1. Promote investment, transparency and collaboration, in partnership with industry, to address the current shortage Commercial diplomacy to promote investments by foreign firms in the domestic semiconductor industry and ensure fair allocation of supplies to American firms. 2. Fully fund the CHIPS for America provisions to promote long-term U.S. leadership At least $50 billion in funding for domestic production incentives to secure mature node supply chains for critical industries. Additional appropriations may also support Department of Defense R&D. 3. Strengthen the domestic semiconductor manufacturing ecosystem Calls on Congress to fund incentives to support essential chip manufacturing supply industries, including fabrication equipment, materials and gases. Investment in radiation-hardened microelectronics data collection, storage and analytics. 4. Support SMEs and disadvantaged firms along the supply chain to enhance innovation Small Business Administration to promote U.S. small semiconductor firms and connect them to commercial value chain via a clearly mapped “growth chain.” 5. Build a talent pipeline Department of Labor funds to be used to support pathways to semiconductor employment through apprenticeships. More high-skilled visas, eliminating visa limits by country and exemptions for highly-skilled STEM talent. 6. Work with allies and partners to build resilience Pursue international research and development partnerships and policy harmonization to address unfair trade practices. Bilateral engagement with South Korea on mutual and complementary semiconductor investment. 7. Protect the U.S. technological advantage Targeted export controls to address semiconductor supply chain vulnerabilities. Collaboration with key supplier allies on multilateral controls to guard U.S. national security. CFIUS reviews of semiconductor-related foreign investments.

More Economy Business News Updates of Today Check Below

Today News || Business Today || World News || Headlines Today || Health || Technology News || Education News

Source

Tags
Show More

Related Articles

Back to top button
Close