{"id":13292,"date":"2022-08-26T15:15:27","date_gmt":"2022-08-26T15:15:27","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/08\/26\/biden-plans-a-speedy-rollout-for-chips-funding\/"},"modified":"2022-08-26T15:15:27","modified_gmt":"2022-08-26T15:15:27","slug":"biden-plans-a-speedy-rollout-for-chips-funding","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/08\/26\/biden-plans-a-speedy-rollout-for-chips-funding\/","title":{"rendered":"Biden plans a speedy rollout for chips funding"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/8\/25\/23321723\/chips-and-science-act-semiconductor-chip-shortage-joe-biden-white-house<\/a>
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President Joe Biden isn\u2019t wasting any time in rolling out the $280 billion law to boost domestic semiconductor manufacturing. On Thursday, Biden signed an executive order<\/a> to get the money flowing out to companies like Intel who want to build fabrication sites in the US.<\/p>\n

Biden officially signed the CHIPS and Science Act<\/a> into law two weeks ago, but Thursday\u2019s order sets the sweeping American innovation project into motion. Biden\u2019s swift implementation signals the administration\u2019s urgency to boost US competitiveness against China and alleviate an incessant chip shortage that\u2019s affected a wide variety of industries like automakers and gaming devices. <\/p>\n

It\u2019s still unclear when the Commerce Department will officially make its $52 billion in semiconductor subsidies available to manufacturers. But Biden\u2019s latest order establishes a new interagency council led by National Economic Director Brian Deese to oversee the funding\u2019s rollout. The order also identifies six administration priorities for the funding, including \u201crigorous\u201d application reviews and focusing on national security needs. <\/p>\n

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