As the semiconductor shortage continues to wreak havoc on the global supply chain, pressure continues to build from within for the U.S. government to create new manufacturing facilities within the country’s borders. Today the House of Representatives passed a bill that includes provisions for new chip factories in the U.S., potentially providing a path forward to ease domestic shortages.
The America Competes Act, which passed with a vote of 222-210, is wide-reaching and ambitious. (Hence the $350 billion price tag.) The bill is an enhanced version of an earlier bill called the U.S. Innovation and Competition Act, and both seek to raise federal support for research and technology in order to better compete with foreign entities. (Hence the name.)
