The $50B Plan To Boost Domestic Manufacturing of Semiconductor Chips

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In this Tuesday, Sept. 28, 2021, photo Commerce Secretary Gina Raimondo poses for a photograph with her Bulova watch. As President Joe Biden's de facto tech minister, Raimondo is tasked with ensuring the United States will be the world leader in computer chips. The lowly computer chip has become the essential ingredient for autos, medical devices, computers, phones, toys, thermostats, washing machines, weapons, LED bulbs, and even some watches. But there is a global shortage, creating a drag on growth and fueling inflation on the cusp of the 2022 elections. (AP Photo/Alex Brandon)
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Commerce Secretary Gina Raimondo laid out a four-step plan in how the department will invest $50 billion to boost domestic manufacturing of semiconductor chips. It’s called Chips for America.

The COVID-19 pandemic caused a huge shortage of chips, hiking up the price of everyday goods, compromising national security, and even slowing down innovation. But now, she says this historic investment is going to make sure the U.S. is never in a position where its national security interests are compromised or key industries are immobilized due to our ability to produce essential semiconductors here at home.


Click ▶️ to listen to the report from AURN Washington Correspondent Ebony McMorris:

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