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September 25, 2022
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Technology

US Senate approves $52 billion for chipmakers—but not designers

The US Senate, by a vote of 64-33, has approved the CHIPS Act, a bill that would provide $52 billion in assistance funds for semiconductor manufacturers looking to make products in the US, along with a 25% tax credit for investment in the industry, as well as research and workforce development grants.

The bill still needs the approval of the US House of Representatives and President Biden, a vocal supporter of the legislation, to become law.

While $2 billion of the direct assistance funds is already earmarked for legacy programs—specifically, technologies that the Department of Defense wants to produce within the US—the other $50 billion is generally available for the development of additional domestic silicon manufacturing in the country.

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