Stefan Mileschin

Following successful votes in the Senate and House of Representatives, President Joe Biden has signed the CHIPS and Science Act into law. The $280 billion measure will provide significant financial assistance to American semiconductor firms. It sets aside $52 billion in tax credits and funding for US chipmakers to expand domestic production. In a rare episode of bipartisan unity, the Senate voted 64-33 in favor of the bill. It was later passed by the House thanks to a 243-187 vote.

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