Red Alert: Biden’s Biggest Chips Act Expense Yet

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Red Alert: Biden’s Biggest Chips Act Expense Yet

Recently, the Biden administration handed  $1.5 billion to the nation’s largest domestic semiconductor manufacturer, GlobalFoundries, the biggest payout from the CHIPS and Science Act of 2022 so far. The argument for this corporate welfare is America is too dependent on chips from China and Taiwan so more should be made domestically. Instead of seeing how America should reduce the cost of doing business for all semiconductor businesses here, som…