Biden to sign bill to boost U.S. chips, compete with China

9/8/2022 19:12

        President Joe Biden on Tuesday will sign a bill to provide $52.7 billion in subsidies for U.S. semiconductor production and research and to boost efforts to
        make the United States more competitive with China's science and technology efforts.
        
        The White House is touting investments that chip companies are making even though it remains unclear when the U.S. Commerce Department will write rules for reviewing grant awards and how long it will take to underwrite projects.
        
        The chief executives of Micron, Intel, Lockheed Martin, HP and Advanced Micro Devices will attend the signing, as will cabinet officials and auto industry and union leaders, including United Auto Workers President Ray Curry, the White House said.