US EditionUS Senator Sanders favors Trump plan to take stake in Intel, others
Bernie Sanders backs converting $10.9 billion in U.S. chipmaker grants into government equity to boost domestic semiconductor production and secure taxpayer returns.
- Bernie Sanders told Reuters on Wednesday he supports converting CHIPS Act grants into government equity stakes, welcoming the administration adopting his amendment from years ago.
- Last week news surfaced and Commerce Secretary Howard Lutnick told CNBC on Tuesday that prior grants were given "for free," urging equity for taxpayers' benefit, Lutnick said.
- Under the 2022 Chips and Science Act, Taiwan Semiconductor Manufacturing Co received $6.6 billion and Intel about $7.9 billion, part of $39-billion subsidies to boost U.S. chip production.
- Other companies applying for federal grants may be alarmed by government ownership, and Wall Street investors and analysts warn the equity stake in Intel could add uncertainty with plenty of strings attached.
- The alignment between Sanders and President Donald Trump highlights a shift toward state intervention, with Sanders and Senator Elizabeth Warren backing Treasury stakes before Chips awards and the administration pursuing revenue shares on AI-chip sales.
15 Articles
15 Articles
Sen. Sanders Backs Trump Admin Plan for Stake in Intel
Sen. Bernie Sanders (I-Vt.) offered support for the Trump administration’s plan to take an equity stake in chipmaker Intel. The stake would be in exchange for the previous administration’s award to Intel of almost $11 billion in grants from the CHIPS and Sciences Act that was passed last year and meant to support U.S. semiconductor production. Sanders spoke in support of the plan, saying that taxpayers should get a kickback from where their tax…
Sanders backs Trump’s plan to take stake in Intel
Sen. Bernie Sanders (I-Vt.) voiced support Wednesday for the Trump administration’s plan to potentially take a stake in Intel, suggesting it aligned with an earlier effort to secure returns from CHIPS and Science Act investments. “I am glad the Trump administration is in agreement with the amendment I offered three years ago to the CHIPS…
US Senator Sanders favors Trump plan to take stake in Intel, others
Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel, into government stakes in the companies.
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