This is why this piece of legislation was passed -
H.R.4346 - CHIPS and Science Act
Public Law No: 117-167 (08/09/2022)
This act provides funds to support the domestic production of semiconductors and authorizes various programs and activities of the federal science agencies.
DIVISION A--CHIPS ACT OF 2022
CHIPS Act of 2022
(Sec. 102) The act establishes and provides funding for the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Fund to carry out activities relating to the creation of incentives to produce semiconductors in the United States.
The act establishes and provides funding for the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Defense Fund to carry out the National Network for Microelectronics Research and Development.
The act establishes and provides funding for the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America International Technology Security and Innovation Fund to (1) provide for international information and communications technology security and semiconductor supply chain activities, including to support the development and adoption of secure and trusted telecommunications technologies, secure semiconductors, secure semiconductors supply chains, and other emerging technologies; and (2) carry out the Multilateral Semiconductors Security Fund and the Multilateral Telecommunications Security Fund.
The act establishes and provides funding for the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Workforce and Education Fund for the National Science Foundation (NSF) for microelectronics workforce development activities to accelerate the domestic development and production of microelectronics and strengthen the domestic microelectronics workforce.
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