In March, President Donald Trump blasted the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act of 2022. He called it "a horrible, horrible thing." Passed under President Joe Biden, the CHIPS Act was essentially a $52 billion industrial policy slush fund intended primarily to bolster domestic production of computer chips.
When the law passed in 2022, the Biden administration said it was a "smart investment" that would "strengthen American manufacturing, supply chains, and national security, and invest in research and development, science and technology" while bringing thousands of "good-paying manufacturing jobs back home."
