US Congress Passes the CHIPS and Science Act

[TheLostSwede]

As The CHIPS and Science Act of 2022 heads to President Biden's desk for his signature, following its passage in Congress, OSTP's Dr. Alondra Nelson is releasing the following statement: "The bipartisan CHIPS and Science Act of 2022 is the most significant American investment in science, technology, and innovation in a generation. It will revitalize and advance U.S. leadership in science and technology, spur U.S. competitiveness and economic development, and bolster our domestic semiconductor supply chains. Most important, it will deliver opportunities for Americans all across the nation.

For working Americans, the stakes of this legislation could not be higher. Semiconductor chips power our daily lives, from the telecommunications that keep us all connected, and medical devices that keep our loved ones alive, to financial institutions that help secure our families' futures, and the computers from which millions of Americans run their businesses. They are a door to a future of innovation, progress, and economic security.




The CHIPS and Science Act opens that door and delivers a transformative investment in that future. For the American people, this legislation means addressing the supply chain shortage, driving future American innovation, and delivering nearly 100,000 good paying jobs to communities across the United States.

By accelerating the development of key technologies—like artificial intelligence, quantum information science, advanced manufacturing, and clean energy technologies—this legislation will help keep Americans safe and allow America to continue shaping global markets. It will also help build the research infrastructure to seize the opportunities and confront the challenges of the future with commitments to the National Science Foundation, the Department of Commerce including the National Institute of Standards and Technology, the Department of Energy, and the National Aeronautics and Space Administration.

This historic legislation will also transform our research investments in science, technology, engineering, and mathematics (STEM) education and help prepare the next generation of STEM leaders. These investments will drive opportunity and equity for learners, educators, and researchers at minority-serving and emerging research institutions and in rural communities, as well as broaden participation to include people of all backgrounds and experiences, enabling the creation of a STEM ecosystem that looks like and benefits all of America.

The CHIPS and Science Act meets the magnitude of the challenges facing the American people today, while ensuring global leadership for years to come.

Put simply, this bill delivers on a core Biden-Harris Administration commitment: Science is back."

View at TechPowerUp Main Site | Source

 

[ZeppMan217]

Can't help but wonder how much of this goes just to Intel.

 

[Leiesoldat]

A lot of the money goes to Intel because they were essentially blackmailing the US Government: give us the money or we are building our fabs in another country and the US will be at the bottom of the queue for silicon.

This does not help the US consumer in the least bit; in fact we get to foot the bill to fund Intel's R&D budget for the next couple of years.

 

[phanbuey]

This does not help the US consumer in the least bit; in fact we get to foot the bill to fund Intel's R&D budget for the next couple of years.

This is what the Asian countries have been doing with their companies for decades with great success. Evidence points to this helping the overall industry.

 

[bug]

Can't help but wonder how much of this goes just to Intel.

AMD would have gotten a bigger piece of the pie, had they not gone fabless...

However, having the fabs locally doesn't mean much, if you still have to haul your raw materials from potentially problematic countries.

 

[Chaitanya]

So country that takes pride and boasts about free market capitalism is endorsing socialist policies.

 

[GuiltySpark]

This is what the Asian countries have been doing with their companies for decades with great success.

Yes, but it is evident in that case there were, and still there are, different initial conditions, both economical and society.

 

[bonehead123]

If this had happened 10, or even 5 years ago, we probably wouldn't be in the predicament that we are now....

But, as we all know, hindsight is 20/20

 

[Daven]

Not a single penny should go to Intel as that would be government sponsored anticompetitive ness.

 

[MarsM4N]

A lot of the money goes to Intel because they were essentially blackmailing the US Government: give us the money or we are building our fabs in another country and the US will be at the bottom of the queue for silicon.

This does not help the US consumer in the least bit; in fact we get to foot the bill to fund Intel's R&D budget for the next couple of years.

Blackmailing, or simply stating facts?

The thing is, the west was outsourcing production for like everything for decades now to Asian and other countries. The only thing that's flourishing in our countries is low wage jobs. We now reached the tipping point where globalization is backfiring for western companies & they try to revert it. Globalization was already hitting the average folks hard the last decades, but the governments didn't care. It's just people with zero influence. But now as companies cry they care, lol. This world is so laughable.

Every de-globalization is a step into the right direction. Local pay, local spend, "trickle-up-effect". Which works, unlike the "trickle-down-effect" scam theory where only the upper class benefits.

What we need is "Rise-Up Economics":

 

[Shihab]

Global Foundries, TI, Micron and the rest watching everyone forget they do fabricate their own wafers as well, not just Intel:



Only one who'd miss on this pie would probably be TSMC, with all the "don't invest in China" strings that come attached. Somewhat amusing too, after all their urging for the approval of this subsidy.

Every de-globalization is a step into the right direction. Local pay, local spend, "trickle-up-effect". Which works, unlike the "trickle-down-effect" scam theory.

Careful now! Uncle Milty's fanbois might just nudge your local military to put an end to this tyrannical statism.

 

[Hammerman]

Blackmailing, or simply stating facts?

The thing is, the west was outsourcing production for like everything for decades now to Asian and other countries. The only thing that's flourishing in our countries is low wage jobs. We now reached the tipping point where globalization is backfiring for western companies & they try to revert it. Globalization was already hitting the average folks hard the last decades, but the governments didn't care. It's just people with zero influence. But now as companies cry they care, lol. This world is so laughable.

Every de-globalization is a step into the right direction. Local pay, local spend, "trickle-up-effect". Which works, unlike the "trickle-down-effect" scam theory where only the upper class benefits.

I only signed up because you are talking absolute rubbish. Mostly because its dangerous facist fantasy rubbish. Wages have never been tied to global trade and are not the reason for their decrease.

It's good you realise that trickle down doesnt work. Maybe dont vote for the politicians who support this, given they are also linked to wages decreasing.

 

[mechtech]

If this had happened 10, or even 5 years ago, we probably wouldn't be in the predicament that we are now....

But, as we all know, hindsight is 20/20

If corps didn’t send all their manufacturing overseas after end of the Cold War and China entering the WTO, for more execs bonuses, we’d probably not be where we are now.

 

[DeathtoGnomes]

The Act would not have been needed if the Previous Administration accomplished its goal to do the same thing without taxpayer funding.

I am not yet aware of everything in this bill, but I think its has higher than normal potential for disaster for the market.

 

[MarsM4N]

I only signed up because you are talking absolute rubbish. Mostly because its dangerous facist fantasy rubbish. Wages have never been tied to global trade and are not the reason for their decrease.

It's good you realise that trickle down doesnt work. Maybe dont vote for the politicians who support this, given they are also linked to wages decreasing.

Don't make me laugh. Just ask the Muricans from the "Rust Belt" how globalization worked out for them.
If you don't understand basic global economics, you should keep it low. And insult others for their fact based opinions as "facists" (with your #1 post) isn't the way either.

The effect of voting is very variable from country to country, based on the financial influence. And every educated knows how much political influence you get with money, esp. in the US.

 

[Wirko]

The trickle-down effect absolutely works, why should I doubt that? (Or shall I use the full name, which is "run up, trickle down effect").

 

[HammerOn1024]

I can't help but wonder how much of this is just unadulterated BS poke spending.

Congress and Science? The only chip's those fecks know about come with salsa on them.

Here's a thought, get out of producers wallets and let them build product... just a thought.

 

[umdterps71]

Don't make me laugh. Just ask the Muricans from the "Rust Belt" how globalization worked out for them.
If you don't understand basic global economics, you should keep it low. And insult others for their fact based opinions as "facists" (with your #1 post) isn't the way either.

The effect of voting is very variable from country to country, based on the financial influence. And every educated knows how much political influence you get with money, esp. in the US.

My degree is in economics and both of you are wrong.

Globalization has moved low income jobs to other countries while leaving the high paying ones here, not taken higher paying ones and leaving the west with low wage ones.

It's created a divide between the have and have nots as you need to have skills to be a high wage earner.... anyone without skills are regulated to low wage jobs, eroding the middle class in the process. Truth be told, those job you think would have paid better would have simply had to lower their wages substantially or go out of business if they didn't export them to Asia.

In my experience, its those that have low education that think voting power is diminished in capitalistic societies. As those are the people in low wage jobs feeling betrayed by the current system.

For future reference, don't belittle someones expertise on a subject when you, yourself are not an expert.

 

[MarsM4N]

My degree is in economics and both of you are wrong.

...

For future reference, don't belittle someones expertise on a subject when you, yourself are not an expert.

Yea, we all know how your "Economics Degree" looks like & on what teachings it's based on. Just look at our economics. Education, or rather "Indoctrination".
And who did I "belittle"? Did you even read the posts? Wasn't me who dropped the sentense "I only signed up because you are talking absolute rubbish. Mostly because its dangerous facist fantasy rubbish."

Feels like there are fake accounts running hot & spreading nonsense.

 

[R0H1T]

Blackmailing, or simply stating facts?

The thing is, the west was outsourcing production for like everything for decades now to Asian and other countries. The only thing that's flourishing in our countries is low wage jobs. We now reached the tipping point where globalization is backfiring for western companies & they try to revert it. Globalization was already hitting the average folks hard the last decades, but the governments didn't care. It's just people with zero influence. But now as companies cry they care, lol. This world is so laughable.

Every de-globalization is a step into the right direction. Local pay, local spend, "trickle-up-effect". Which works, unlike the "trickle-down-effect" scam theory where only the upper class benefits.

What we need is "Rise-Up Economics":

You think this will "deglobalize" the world?

Favorite catchphrase from a conman who sold the US on the elixir that is globalization.

Not a single penny should go to Intel as that would be government sponsored anticompetitive ness.

This will only help Intel & their greedy stockholders! Sure it could benefit US in the long run but why shouldn't this money go to AMD then? Will Intel stop buying chips from TSMC after getting the subsidy or is AMD being punished for doing much better with much less($) at their disposal?

If corps didn’t send all their manufacturing overseas after end of the Cold War

The globalization BS started before the cold war but yes the end of it accelerated outsourcing ~ the cure to that though is not bringing everything back home, it's probably to tax the hell out of these profitable ventures & IMO cap executive bonuses!

 

[maxfly]

I see the intel hate is out in full force this fine day! hahaha. And the political rubbish? Cmon, what is this? reddit, facebook, twitter? Embarrassing.

A bill that will create jobs and decrease foreign dependency. Hmm, gotta be bad if the I word is involved! You guys crack me up.

 

[bug]

So country that takes pride and boasts about free market capitalism is endorsing socialist policies.

Socialist policies are something else. Helping when in dire straits is something else.
But yes, there is a real risk of the latter turning into the former.

 

[Daven]

I just can’t believe we are all falling for Intel’s con:

Intel Cuts Fab Buildout by $4B To Pay Billions In Dividends – First Net Loss In Over 30 Years, Cutting Fab Buildouts, But “Committed To Growing The Dividend”

First Net Loss In Over 30 Years, Cutting Fab Buildouts, But “Committed To Growing The Dividend”

semianalysis.com

They only want the bailout so they can keep paying dividends and not pay for their own manufacturing fabs. This is highway robbery pure and simple!!!

 

[Fouquin]

It's too bad this couldn't pass in time to save Centaur Technologies. VIA really pulled a sneaky on everyone by removing the last third-party player in the x86 design industry from US soil in November and nobody even batted an eye.

 

[Chaitanya]

AMD would have gotten a bigger piece of the pie, had they not gone fabless...

However, having the fabs locally doesn't mean much, if you still have to haul your raw materials from potentially problematic countries.

None of Intel's competitors are thrilled with this even before passing.

AMD, Qualcomm, Nvidia may oppose CHIPS Act for lack of subsidies: report

Companies like Advanced Micro Devices (AMD), Qualcomm (QCOM) and Nvidia (NVDA) are deciding whether to oppose the $52B CHIPS Act on grounds that the legislation does not do enough...

seekingalpha.com