In August 2022, the President signed the CHIPS Act into law, after the bill passed in both the Senate and House in July with bipartisan support. The bill contains $52 billion to increase semiconductor manufacturing. It also authorizes a record $11 billion for new programs to be administered through the US Economic Development Administration (EDA). The CHIPS Act authorizes – but does not appropriate – funding for these new EDA initiatives. Click here for more details.
