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Tags: semiconductor chip | shortage | congress | china | market

Funds to Ease Semiconductor Chip Shortage Stalled in Congress

The U.S. Capitol in Washington, D.C. (Mandel Ngan/Getty Images)

By    |   Thursday, 30 June 2022 06:34 AM EDT

Semiconductor chips – a crucial component in nearly all household and major electronics – continue to face massive shortages, and a plan to boost production domestically to hedge against China dominating the market has hit a snag in Congress.

The CHIPS for America Act passed by Congress in January 2021 includes $52 billion in investments for research, design, and manufacturing of chips, and the financial boost attracted some of the biggest names in the industry. Companies that include Intel Corp., Taiwan Semiconductor Manufacturing Co., and Samsung Electronics Co. signed on to build plants in the U.S.

Marisa Herman

Marisa Herman, a Newsmax senior reporter, focuses on major and investigative stories. A University of Florida graduate, she has more than a decade of experience as a reporter for newspapers, magazines, and websites.

© 2024 Newsmax. All rights reserved.


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Semiconductor chips - a crucial component in nearly all household and major electronics - continue to face massive shortages, and a plan to boost production domestically to hedge against China dominating the market has hit a snag in Congress.
semiconductor chip, shortage, congress, china, market
939
2022-34-30
Thursday, 30 June 2022 06:34 AM
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