U.S. lawmakers look to carve off chips funding to speed passage – Raimondo
2022.07.13 22:21
FILE PHOTO: Commerce Secretary Gina Raimondo testifies before the Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies during a hearing on expanding broadband access on Capitol Hill in Washington, D.C., U.S. February 1, 2
WASHINGTON (Reuters) – U.S. Secretary of Commerce Gina Raimondo said on Wednesday that lawmakers appear to be moving to carve off $52 billion in semiconductor chips manufacturing subsidies from a larger bill on boosting U.S. competitiveness with China.
“Things seem to be coalescing around the path of chips, or maybe chips plus a thing or two, and getting it done this month,” Raimondo told Reuters in a telephone interview. “It seems like that’s what Congress is coalescing around.”
A smaller bill could also include investment tax credits for semiconductor manufacturing, she said, but emphasized that discussions are very fluid. “That is a good outcome because the worst outcome is getting nothing done by Aug. 4,” when Congress leaves for summer recess, she said.
