The vote was the long-awaited bill’s final hurdle before Biden.
It might get cheaper and easier to buy popular tech products, like gaming consoles and graphics cards, after Congress approved $52 billion in funding for domestic semiconductor manufacturing.vote on Thursday, the House passed the $280 billion CHIPS and Science Act to strengthen US science and technology innovation. The bill, a Biden administration priority, includes $52 billion in subsidies to encourage chip manufacturers to build out semiconductor fabrications plants, or “fabs,” in the US.
The coronavirus pandemic upended a wide variety of industries, but especially businesses that manufacture products that require semiconductor chips. Demand for tech products, like laptops, consoles, and tablets, skyrocketed as consumers grew accustomed to spending more time at home instead of at school or the office.
The CHIPS and Science Act is the final version of an innovation bill that’s undergone numerous title and language changes since the concept was first introduced in 2019. The initial version of the bill was titled the Endless Frontier Act, a nod to President Franklin D. Roosevelt. Last summer, the Senate approved a newer version of the bill, the US Innovation and Competition Act, that stalled as House and Senate leaders negotiated changes.
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