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The Guardian - US
The Guardian - US
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Robert Reich

Why is the US about to give away $52bn to corporations like Intel?

Intel Corporation Semiconductor United States America GlobalFoundries
Senators Arrive to Vote on Amendments to Infrastructure Bill<br>The exterior of the US Capitol is seen as Senators work to advance the bipartisan infrastructure bill in Washington, U.S., August 8, 2021. REUTERS/Sarah Silbiger
‘The problem for the US is Intel is not helping America cope with its current shortage of chips by giving preference to producers in the United States.’ Photograph: Sarah Silbiger/Reuters

Congress will soon put final touches on the Chips Act, which will provide more than $52bn to companies that design and make semiconductor chips.

The subsidy is demanded by the biggest chipmakers as a condition for making more chips in America.

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