Biden signs bill to boost U.S. chips, compete with China

WASHINGTON- President Joe Biden on Tuesday signed a landmark bill to provide $52.7 billion in subsidies for U.S. semiconductor production and research and to boost efforts to make the United States more competitive with China’s science and technology efforts.

“The future is going to be made in America,” Biden said, calling the measure “a once-in-a-generation investment in America itself.”

Biden touted investments that chip companies are making even though it remains unclear when the U.S. Commerce Department will write rules for reviewing grant awards and how long it will take to underwrite projects.

Some Republicans joined Biden on the White House lawn to attend the signing of t…

Keep on reading: Biden signs bill to boost U.S. chips, compete with China