In a historic move, President Joe Biden has given his consent to the $280 billion CHIPS and Science Act on August 9. The bill has been applauded by many lawmakers, union officials, local politicians and business executives. On the signing day, President Biden mentioned in his speech that "The CHIPS and Science Act supercharges our efforts to make semiconductors here in America. America invented the semiconductor, and this law brings it back home," according to a CNET article. The bill is expected to enhance the competitiveness of the U.S. semiconductor industry by addressing the issues like supply-chain disturbances that are causing chip shortages.
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