The White House Bet Big on Intel. Will It Backfire?
A plan to revive U.S. chip manufacturing rests partly on a company that is firing workers and delaying factories, even as the government pushes for the opposite.
A plan to revive U.S. chip manufacturing rests partly on a company that is firing workers and delaying factories, even as the government pushes for the opposite.
Aaron Chatterji was chief economist at the Commerce Department under President Biden and served on President Obama’s Council of Economic Advisers.
Federal officials acknowledged that few Chinese vehicles were on U.S. roads now, but said that the administration wanted to take proactive measures to strengthen national security.
The funding stems from the bipartisan CHIPS Act, which aims to bolster the production of critical semiconductors in the United States.
The proposed funding, part of the CHIPS Act, is intended to stoke chip packaging, a process that helps drive progress in semiconductors but that takes place mostly in Asia.
The grant is the latest federal award in a series stemming from the CHIPS and Science Act meant to ramp up domestic production of vital semiconductors.
The decision comes as President Biden champions his economic policies during a tour of the Southwest.
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