A new alliance of powerful US tech companies has joined forces to create the Semiconductors in America Coalition (SIAC) which has urged US congressional leaders to secure $50 billion for the CHIPS for America Act.
The Semiconductors in America Coalition has pushed congressional leaders to secure $50 billion in funding for US-based chip manufacturing incentives and research initiatives. SIAC says that its mission is to "advance federal policies that promote semiconductor manufacturing and research in the U.S. to strengthen America's economy, national security, and critical infrastructure".
The CHIPS for America Act legislation may have been enacted earlier this year, but the funds are not flowing -- something Intel has voiced its opinion on with the Biden administration recently. SIAC's first actions included a letter to congressional leaders to support this legislation, and fully fund the $50 billion asked for in the CHIPS for America Act.
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The SIAC explained in a letter penned to US congress Speaker Pelosi, and leaders Schumer, McConnell, and McCarthy: "The current shortage of semiconductors is impacting a broad range of industries throughout the economy. To address this problem in the short term, government should refrain from intervening as industry works to correct the current supply-demand imbalance causing the shortage. For the longer term, robust funding of the CHIPS Act would help America build the additional capacity necessary to have more resilient supply chains to ensure critical technologies will be there when we need them".
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