Building Chips in America Act of 2023

The Building Chips in America Act of 2023, also known as Bill 118 s 2228, is a piece of legislation introduced in the US Congress with the goal of promoting the domestic production of semiconductor chips. The bill aims to address the current global shortage of semiconductor chips by investing in research and development, as well as incentivizing companies to manufacture chips in the United States.

Key provisions of the bill include funding for research and development in semiconductor technology, as well as grants and tax incentives for companies that choose to build or expand semiconductor manufacturing facilities in the US. The bill also includes measures to strengthen supply chain security and resilience, in order to prevent future chip shortages.

Supporters of the Building Chips in America Act argue that increasing domestic production of semiconductor chips is crucial for national security and economic competitiveness. They believe that investing in semiconductor manufacturing will create jobs, boost innovation, and reduce reliance on foreign suppliers. Opponents of the bill raise concerns about the cost of implementing the proposed measures, as well as the potential impact on global trade and supply chains. They argue that government intervention in the semiconductor industry could distort the market and lead to inefficiencies. Overall, the Building Chips in America Act of 2023 is a significant piece of legislation that seeks to address the current challenges facing the semiconductor industry in the United States. Its success will depend on the ability of lawmakers to balance the competing interests of national security, economic competitiveness, and free market principles.