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Biden to Sign $280 Billion CHIPS Act in Bid to Boost US Over China

August 9, 2022


President Joe Biden signed a $280 billion bipartisan bill Aug. 9 to boost domestic high-tech manufacturing, part of his administration’s push to boost U.S. competitiveness over China.

The Rose Garden ceremony included lawmakers, union officials, local politicians and business leaders, as the president looks to highlight a new law that will incentivize investments in the American semiconductor industry in an effort to ease U.S. reliance on overseas supply chains for critical, cutting-edge goods.

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