[Ed. – What are we, the Soviet Union now? The federal government decides when we want to build leading-edge chip plants, and fronts the money for them? This smells wrong at every level, starting with the global chip shortage, apparently brought on by the pandemic lockdowns.]
A senior administration official told FOX Business’ Edward Lawrence exclusively on Friday that U.S. Commerce Secretary Gina Raimondo is looking to open six to eight semiconductor chip factories in the U.S. within 18 months of the date that Biden signs the Innovation and Competition Act into law.
The administration is keen on building a “leading edge” chip plant in the U.S., the official said.
The Innovation and Competition Act is a $250 billion investment in various science and technology fields. It was adopted by the Senate in June and is expected to eventually pass the House.