Biden Signs CHIPS Act into Law
Biden signs bill boosting US chip manufacturing as he kicks off victory lap – CNN President Joe Biden signed the CHIPS Act into law on Tuesday that seeks to promote American chip production, reducing the cost of goods, reducing U.S. dependence on overseas manufacturing, and alleviating supply-chain disruptions following the Covid-19 pandemic. During the signing, President Biden said that American semiconductor production is being outsourced to other countries and that winning back a greater share …