U.S. Capitol building at night, September 6, 2018 (AnthonyTPope, https://tinyurl.com/22wc8enn; CC BY-SA 4.0; https://tinyurl.com/bdethezx).
More than two years after it was first proposed, Congress has finally passed one of the most anticipated legislative efforts of the Biden presidency: a bipartisan bill to help the United States compete more effectively with China. The Creating Helpful Incentives to Produce Semiconductors for America (CHIPS) and Science Act, which is expected to soon be signed by President Biden, promises to invest tens of billions of dollars in public funds to develop advanced technologies—most notably to subsidize semiconductor manufacturing
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