United States President Joe Biden’s administration has said it will require companies winning funds from its $52bn semiconductor manufacturing and research programme to share excess profits and explain how they plan to provide employees with affordable childcare.
The US Commerce Department on Tuesday released plans to begin accepting applications in late June for a $39bn manufacturing subsidy programme. The funding is part of the CHIPS and Science Act, which President Joe Biden signed into law last August. The law also creates a 25 percent investment tax credit for building chip plants, estimated to be worth $24bn.
