A vote set to bolster U.S. semiconductor production could take place as early as Tuesday, according to Senate Majority Leader Chuck Schumer.

The CHIP Act is designed to provide $52 billion in subsidies for chip companies that design and manufacture their own chips, like Idaho-based micron technology.

The hope is that the bill will reduce the United States’ dependency on foreign manufacturers like Taiwan and China while helping to ensure that American-based companies remain in the country.

U.S. Commerce Secretary Gina Raimondo spoke with KMVT on Monday, saying this vote is vital to the future of U.S. chip production.

“We know that these companies that are in your states have offers, right now, from other countries to expand there,” Raimondo said. “We know that they’ll take those offers if Congress doesn’t do its job this week and pass this CHIPS Act.”

The CHIPS Act has passed the House with bipartisan support and faces a Senate vote Tuesday before heading to the President’s desk.

By: DocMemory
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