Biden to Sign Order to Begin Implementing $52 Billion Chip-Manufacturing Law
- Order aims to insure accountability as companies seek funding
- Creates steering committee to coordinate across agencies
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President Joe Biden signed an executive order Thursday to fast-track implementation of a law aimed at boosting domestic semiconductor manufacturing and helping the US compete with China’s dominance in the industry.
The directive establishes a steering committee to help agencies coordinate their efforts to put the law into action and details the administration’s priorities as companies begin applying for and using funds available under the $52 billion CHIPS and Science Act.