# CHIPS and Science Act

> ~$280 billion to boost domestic semiconductor manufacturing and R&D, including ~$52B in chip subsidies, to reduce reliance on Asian supply chains.

Joe Biden · Technology · Legislation · Aug 9, 2022
Official record: https://en.wikipedia.org/wiki/CHIPS_and_Science_Act

## 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 / substantiated] Spurred major new U.S. chip-factory investment. — Companies announced tens of billions in new U.S. fabrication plants, reshoring strategically critical manufacturing.
- [mixed / contested] Costly industrial policy with long lead times. — Critics questioned subsidizing profitable firms; factories take years to come online.

## Sources

- [CHIPS and Science Act (Wikipedia)](https://en.wikipedia.org/wiki/CHIPS_and_Science_Act)

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Canonical: https://eo.alanwizemann.com/eo/biden/chips-and-science-act