Corporate Welfare Or Needed Investment To Beat China? Senate Passes Computer CHIPS Subsidy Bill

Corporate Welfare Or Needed Investment To Beat China? Senate Passes Computer CHIPS Subsidy Bill


On Wednesday, the United States Senate passed a bill subsidizing semiconductors that proponents say will allow America to compete with China while bolstering supply chains, but critics warn the legislation is nothing more than corporate welfare.

The Senate passed the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science act in a bipartisan vote of 64-33. The bill will dedicate $52 billion in government subsidies for computer chip-making companies, alongside $24 billion in tax credits, while putting forth $170 billion in scientific research over the next five years. Folks like Senator Ron Johnson (R-WI) argue that the bill is a complete waste of taxpayer money.

“It makes no sense whatsoever,” Johnson said in an interview. “We have more than enough money sloshed around the economy to invest

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