Trump wants Republicans to 'get rid of' the CHIPS Act. They may just ignore him.
(Business Insider) -snip- President Donald Trump casually told Congress on Tuesday to scrap a $52 billion bipartisan law designed to supercharge the American semiconductor manufacturing industry.
"Your CHIPS Act is a horrible, horrible thing," Trump said during a joint address to Congress on Tuesday night. "You should get rid of the CHIP Act, and whatever's left over, Mr. Speaker, you should use it to reduce debt, or any other reason you want to." That landed with a thud among the Republicans who backed the sweeping legislation two and half years ago.
-snip-
The bill included $39 billion in subsidies for chip manufacturing in the US, plus $13.2 billion for semiconductor research and workforce development. The goal of the legislation was to make the US less reliant on chips manufactured in Taiwan, create US manufacturing jobs, and bolster competition with China — something that was especially important for national security-minded Republicans.
It passed both chambers on a bipartisan basis, garnering the enthusiastic support of then-Senate Minority Leader Mitch McConnell, plus the support of 16 other GOP senators and virtually all Democrats.
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