Sanders Proposes Forcing Chipmakers to Give U.S. Equity for Aid
- Sanders seeks amendment to broader bill on competitiveness
- Legislation to confront China may be delayed as changes sought
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Senator Bernie Sanders said he wants semiconductor companies including Intel Corp. and Texas Instruments Inc. to give the federal government an equity interest in exchange for federal grants and aid that would be included in a sweeping bill intended to help the U.S. compete with China.
The legislation, known as the Endless Frontier Act, “provides $53.5 billion in financial assistance to the semiconductor industry with virtually no strings attached,” the Vermont independent said in a statement. “If we are going to reward these companies with a taxpayer assistance, the very least we can and should be doing is to put strong conditions on that taxpayer assistance.”