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July 29, 2022

Congress Approves Bill to Subsidize U.S. Semiconductor Industry
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The House of Representatives has sent the White House a $280 billion
bill to support the U.S. semiconductor industry. Once signed by
President Biden, the CHIPS Act will provide more than $76 billion in
subsidies to corporations that produce semiconductor chips in the United
States. All but one House Democrat voted in favor of the bill on
Thursday. The vote came after Vermont independent Senator Bernie Sanders
blasted the legislation as corporate welfare for a handful of wealthy
high-tech companies.


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