Biden Team Plans for Chips Funding Even Before Congress Acts
- Administration planning to spend $52 billion, Raimondo says
- She says U.S. needs to ‘incentivize’ chip manufacturing
This article is for subscribers only.
The Biden administration is laying the groundwork to spend roughly $52 billion on semiconductor research and manufacturing even as it’s awaiting congressional approval of the funding, Commerce Secretary Gina Raimondo said.
“We’re putting plans in place right now already on the team to invest the $52 billion,” she said Thursday during a White House press briefing. “We need to incentivize the manufacturing of chips in America and so we are very focused on putting the pieces in place so that can happen.”