The Trump administration clawed back more than $7.4 billion in taxpayer dollars from a nonprofit group created under the Biden-era CHIPS and Science Act for semiconductor research and development, Commerce Secretary Howard Lutnick announced on Monday.
The 2022 CHIPS Act allocated $11 billion in semiconductor research and development funding to the National Semiconductor Technology Center. Natcast operated the initiative under a long-term partnership with the Department of Commerce, which has been severed.
Describing Natcast as a “slush fund” and an “illegal, unaccountable, left-wing created fake department,” Lutnick said the Commerce Department doesn’t recognize the California-based nonprofit group because it was established in violation of federal law.
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“Rather than establishing these operations within the Department, however, Biden Administration officials spent significant time, effort, and resources creating an
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