President Joe Biden signed the $280 billion CHIPS and Science Act into law. The bipartisan bill, approved by Congress in late July, will channel $52.7 billion into American semiconductor manufacturing and research efforts and pumps billions more into federal scientific research & development (R&D).
“The future is going to be made in America,” said the President, adding that the law was “a once-in-a-generation investment in America itself.”
The CHIPS Act earmarks $52.7 billion for American semiconductor research and development (R&D), manufacturing, and workforce development. Thirty-nine billion is earmarked for manufacturing subsidies. Another $13.2 billion is set aside for semiconductor R&D and to support workforce development. The law also creates a 25% tax credit for companies that make capital investments in domestic semiconductor manufacturing equipment and facilities.
The $1.5 billion earmarked for wireless network disaggregation efforts got a big thumbs up from the Open RAN Policy Coalition at the time of the bill’s passage in the U.S. House of Representatives in late July. The Public Wireless Supply Chain Innovation Fund will be managed by the Department of Commerce’s National Telecommunications and Information Administration (NTIA). The $1.5 billion will be used “for promoting and deploying wireless technologies that use open and interoperable radio access networks. This investment will boost U.S. leadership in wireless technologies and their supply chains,” said the White House.