Biden’s big semiconductor law will ramp up US chip production -- but at a high cost, report finds
- The Chips and Science Act will sharply increase semiconductor production in the United States, as stated by President Joe Biden.
- The Peterson Institute for International Economics found that the Act will create about 93,000 construction jobs and 43,000 permanent jobs.
- Each job created will cost taxpayers about $185,000 a year, according to the Peterson report.
- The Act aims to boost the U.S. Share of advanced chips to 20% by 2030, but faces challenges, as noted by researchers Gary Hufbauer and Megan Hogan.
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Leaning Left11Leaning Right1Center8Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
L 55%
C 40%
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