Earlier this week, President Donald Trump publicly called for repeal of the CHIPS Act during a televised speech before Congress, criticizing it for delivering wasteful corporate subsidies. While House Speaker Mike Johnson applauded Trump's remarks, many Republican lawmakers, him included, were caught off guard and showed little interest in undoing the legislation, reports NBC.
"Your CHIPS Act is a horrible, horrible thing,” Trump said. "We give hundreds of billions of dollars, and it does not mean a thing. All that was important to them was they did not want to pay the tariffs. You should get rid of the CHIPS Act. And whatever is left over, Mr. Speaker, you should use it to reduce debt. Or any other reason you want to."
