Joe Biden · Democratic · Legislation
CHIPS and Science Act
Aug 9, 2022
Joe BidenTechnologyLegislationTerm (2021–25)
📜 View the official record on federalregister.gov
What happened
~$280 billion to boost domestic semiconductor manufacturing and R&D, including ~$52B in chip subsidies, to reduce reliance on Asian supply chains.
How it happened
Passed with bipartisan support; signed August 9, 2022.
Documented impact
Positive impactsubstantiated
Spurred major new U.S. chip-factory investment.
Companies announced tens of billions in new U.S. fabrication plants, reshoring strategically critical manufacturing.
Mixed impactcontested
Costly industrial policy with long lead times.
Critics questioned subsidizing profitable firms; factories take years to come online.
Sources
Every claim above links to its source. Primary record and cited reporting: