Good News: Commerce Dept Looking For Semiconductor Chip Applications By February

We’ve only known about the chip shortage since early in 2021. We were told it was super important to get the legislation so we could get them made in the U.S. About that

U.S. Commerce aims to seek chips funding proposals by February

The U.S. Commerce Department said Tuesday it hopes by February to begin seeking applications for $39 billion in government semiconductor chips subsidies to build new facilities and expand existing U.S. production.

Congress in August approved $52.7 billion for semiconductor manufacturing and research and a 25% investment tax credit for chip plants, estimated to be worth $24 billion. That credit applies to projects that start construction after Jan. 1.

“We’re going to negotiate these deals one-at-a-time,” Commerce Secretary Gina Raimondo told reporters, adding they would need companies to prove government funding is absolutely necessary for production. “They’re not going to get anymore than necessary to make these investments,” she added.

President Joe Biden signed the legislation to boost efforts to make the United States more competitive with China and to subsidize U.S. chip manufacturing in a bid to alleviate a persistent chips shortage that has affected everything from washing machines and video games to cars and weapons.

Commerce said Tuesday “funding documents, which will provide specific application guidance… will be released by early February 2023. Awards and loans will be made on a rolling basis as soon as applications can be responsibly processed, evaluated and negotiated.” Raimondo said she hopes some money could be awarded by spring.

By the time the funding is actually going out the chip shortage will probably be over. It would be nice not to have to depend on other nations for the chips, but, once the companies start looking to actually make them the extrem-enviros will look to block all mining of the metals necessary for the chips. This was all something that needed to be done early in 2021.

Raimondo told Reuters in an interview last week the first priority was to get a team in place to oversee the program and then issue “high level principles and guidelines for how we’re going to be running this program and then we’re going to have a period of pretty intensive stakeholder engagement” over “the next handful of months.” Raimondo said Tuesday the team would consist of about 50 people.

A typical exercise in government idiocy that will produce less than nothing.

Save $10 on purchases of $49.99 & up on our Fruit Bouquets at Promo Code: FRUIT49
If you liked my post, feel free to subscribe to my rss feeds.

Both comments and trackbacks are currently closed

One Response to “Good News: Commerce Dept Looking For Semiconductor Chip Applications By February”

  1. H says:

    Teach you think it should have been done in 2021?
    Well then blame it on Trump.That funding should have been included in his last yearly budget that he signed for fiscal year 2021

Pirate's Cove