Is the CHIPS Act in Jeopardy? What the Election Could Mean for Semiconductor Industry

Today’s election, which pollsters say is neck and neck in the presidential race between Republican candidate and former President Donald J. Trump and Democratic candidate, Vice President Kamala Harris, could determine the future of the $52.7 billion CHIPS and Science Act.

The CHIPS Act, signed into law two years ago, is already doling out some of the $39 billion aimed at semiconductor manufacturing, with another $13.2 billion earmarked for research and development and workforce development. The Biden Administration has touted the effort as one of its major accomplishments.

Trump recently took to the Joe Rogan podcast to declare: “That chip deal is so bad.” Trump says the U.S. should instead impose tariffs he says would force more chips to be produced in the U.S. Others say tariffs, which are charged to the importing company and not the exporting country, would have the opposite effect.

House Speaker Mike Johnson, in remarks that he recently walked back, suggested that the GOP would "probably" try to repeal the legislation. He later said that he misunderstood the question after pushback from GOP Rep. Brandon Williams, a New York state congress member locked in a tough race with Democrat candidate state Sen. John Mannion.

Read the full story from IoT World Today's sister publication Information Week >>>

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