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Schumer introduces bill to invest $53 billion in domestic semiconductor production

· $2 billion for a CHIPS for America Defense Fund: Funding is appropriated up front and $400 million is allocated each year, over 5 years for the purposes of implementing programs authorized in Sec. 9903(b), providing support for R&D, testing and evaluation, workforce development, and other related activities, in coordination with the private sector, universities, and other Federal agencies to support the needs of the Department of Defense and the intelligence community. · $500 million for a CHIPS for America International Technology Security and Innovation Fund: Funding is appropriated upfront and $100 million each year, allocated over 5 years to the Department of State, in coordination with the U.S. Agency for International Development, the Export-Import Bank, and the U.S. International Development Finance Corporation, for the purposes of coordinating with foreign government partners to support international information and communications technolo

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Senate seeks $52 billion to boost US chip production

The legislation would also include significant federal incentives to enhance tech R&D at American universities and institutions over the next five years. The Senate will take up this legislation beginning this week. The House will consider similar legislation. Any bill that eventually makes its way to the White House would likely be some combination of the two. Meanwhile, President Joe Biden has already asked Congress for $50 billion to fund the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, which would use federal money to build more chip manufacturing capacity in the US. The Semiconductor Industry Association (SIA) warns that the US share of global semiconductor manufacturing capacity has decreased from 37% to 12% since 1990. This is primarily due to government subsidies in other regions and stagnation in federal investment.

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Senate Democrat proposes $52 billion for U S chips production, R&D

Senate Democrat proposes $52 billion for U S chips production, R&D
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Schumer wraps CHIPS Act funding into new tech bill

Schumer wraps CHIPS Act funding into new tech bill
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Senate Democrat proposes $52 billion for U S chips

By David Shepardson WASHINGTON, May 18 (Reuters) - U.S. Senate Democratic Leader Chuck Schumer unveiled revised bipartisan legislation late Tuesday to approve $52 billion to significantly boost U.S. semiconductor chip production and research over five years. The emergency funding proposal will be included in a more than 1,400-page revised bill the Senate is taking up this week, as first reported by Reuters on Friday, to spend $120 billion on basic U.S. and advanced technology research to better compete with China. American manufacturing has suffered rather dramatically from a chip shortage, Schumer said. We simply cannot rely on foreign processors for chips. This amendment will make sure that we don t have to.

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