- July 24, 2021
- Posted by: Stratford Team
- Category: Business
Jen Psaki on semiconductor chip supply chain
The Biden administration is moving forward with plans to potentially build several semiconductor plants in the U.S. to increase chip production amid a global shortage.
A senior administration official told FOX Business’ Edward Lawrence exclusively on Friday that U.S. Commerce Secretary Gina Raimondo is looking to open six to eight semiconductor chip factories in the U.S. within 18 months of the date that Biden signs the Innovation and Competition Act into law.
U.S. Commerce Secretary Gina Raimondo said on Monday a proposed $52 billion boost in U.S. government funding for semiconductor production and research could result in seven to 10 new U.S. factories. (AP Photo/Susan Walsh, File) (AP)
The administration is keen on building a “leading edge” chip plant in the U.S., the official said.
The Innovation and Competition Act is a $250 billion investment in various science and technology fields. It was…
