White House Touts $11B US Semiconductor R&D Program

The White House touted the U.S. government’s plan to spend $11 billion on semiconductor-related research and development and said it was launching the $5 billion National Semiconductor Technology Center.

Congress in August 2022 approved the landmark Chips and Science Act. The law provides that $52.7 billion, including $39 billion in subsidies for semiconductor production and $11 billion research and development. It also creates a 25 percent investment tax credit for building chip plants, estimated to be worth $24 billion.

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