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.
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