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The Biden administration is scrambling to send billions to chipmakers before Trump takes over

By Ilene
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The Biden administration is working to finalize manufacturing incentives for US chip production before President-elect Donald Trump takes office. Evan Vucci/AP Photo

The Biden administration is scrambling to send billions to chipmakers before Trump takes over

By Jacob Zinkula, Business Insider 

The Biden administration is running out of time to finalize agreements that would secure billions in funding for US chipmakers.

In 2022, President Joe Biden signed the CHIPS Act into law, which included $39 billion in manufacturing incentives for chip production in the US along with $13.2 billion for semiconductor research and workforce development. In addition to creating US jobs, the administration hoped to secure supply chains and make the US less reliant on advanced chips from Taiwan.

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