Trump Calls for End to $52 Billion Chips Act Subsidy Program
Source: Bloomberg
"President Donald Trump called for ending a bipartisan $52 billion semiconductor subsidy program that’s spurred more than $400 billion in investments from companies like Taiwan Semiconductor Manufacturing Co. and Intel Corp.
“Your Chips Act is a horrible, horrible thing,” the president said in a prime-time address to Congress on Tuesday. Trump implored US House Speaker Mike Johnson to get rid of the legislation and use “whatever is left over” to “reduce debt or any other reason.”
His remarks were met with applause in a chamber that passed the Chips and Science Act less than three years ago. Vice President JD Vance, whose home state of Ohio won a massive Intel project thanks to the law, stood up to show his support for its revocation.
The Chips Act is among the most significant US forays into industrial policy in more than a generation. It set aside $39 billion in grants — plus loans and 25% tax breaks — to revitalize American semiconductor manufacturing, as well as $11 billion for chip research and development. The aim was to reduce reliance on Asia for electronic components that power everything from smartphones to massive data centers.
Read more: https://www.bloomberg.com/news/articles/2025-03-05/trump-calls-for-end-to-52-billion-chips-act-subsidy-program?srnd=homepage-americas

BootinUp
(49,628 posts)JohnSJ
(98,408 posts)BootinUp
(49,628 posts)underpants
(189,952 posts)JohnSJ
(98,408 posts)no_hypocrisy
(51,151 posts)In case you didn't know, TSF spent his first two years at Fordham in the Bronx. His brother, Fred Jr., made a phone call to the Admissions at Wharton to get his brother transferred.
Lonestarblue
(12,549 posts)The Wharton School is primarily known for its MBA program. Trump has intimated that his degree was an MBA. It was not, but the BS part was real.
the nelm
(57 posts)In more ways than one...
no_hypocrisy
(51,151 posts)and let China make them, import them with 35% (?) tariffs, and that will make it all better.
kerouac2
(1,153 posts)With a big expected impact on the area that has already prompted housing development. Wonder what will happen now in the area, which is loaded with maga.
vankuria
(948 posts)My community! Micron will definitely have far reaching economic effects all over Central NY and possibly the entire state. Local colleges have even incorporated Micron into their curriculums for a competitive job market. It’ll be a terrible loss if trump messes this up and a lot of pissed off folks.
Zambero
(9,829 posts)That project was shovel ready, as most of the site analysis for future expansion was completed in advance of funding. So true to form, Trump's "America first" approach is essentially to keep us dependent on foreign suppliers for chips and semiconductor R&D.
Bengus81
(8,689 posts)Beyond even a cult,it;s a full blown addiction to one person and his reckless actions.
sinkingfeeling
(55,046 posts)Botany
(73,840 posts).. was from President Obama and his people (Kerry & Moniz) and it was working too and those
successes burns Krasnov’s butt.
Good God in Butter are we fucked. Krasnov wants to burn America to the ground.
The Chips Act in Columbus, Ohio region:
NEW ALBANY Intel Corporation's computer chip manufacturing campus under construction in Jersey Township just south of Johnstown will be called "Ohio One," the company announced Monday.
In addition, the company also released new renderings of how the site is expected to look when construction is complete in 2025.
The name pays tribute to Ohio's history of producing firsts, including the Wright brothers, who grew up in Ohio and first envisioned their historic planes here, John Glenn, the first man ever in orbit the earth, and Neil Armstrong, the first man on the moon.
The company states that Ohio One brings a new epicenter of leading-edge technology innovation to Ohio, the Midwest and America.
https://www.newarkadvocate.com/story/news/2023/01/24/intel-shows-off-future-of-licking-county-campus-dubs-it-ohio-one/69833455007/
Raftergirl
(1,656 posts)What s doofus.
Monsieur_Grumpe
(154 posts)AmericaUnderSiege
(777 posts)Very helpful input for planning America's next moves.
BrianTheEVGuy
(697 posts)Why would we need to manufacture our own computer chips in the middle of a massive trade war with technology being the linchpin to the future?
IronLionZion
(48,485 posts)while also calling to end the Chips Act.
Taiwan Semiconductor, Samsung, Intel, and others have said it costs more to build chips in the US so the Chips act subsidies sweeten the deal.
JT45242
(3,249 posts)This is bad economic policy.
This is bad foreign policy.
This is bad military policy.
Unless of course, we now consider China to be our ally and not Europe.
JD Vance fucking over Ohio residents and jobs like they are living room furniture.
Evolve Dammit
(20,502 posts)everything Obama or Biden did. Fuck Americans. Maybe the MAGATs will eventually figure out they are being fucked too?
Bengus81
(8,689 posts)SS,then the 60's for Medicare,now off to the 2020's killing off the chips act. Unhinged stupid FUCK that 250+ Republicans are going along with full bore.
riversedge
(75,046 posts)BobTheSubgenius
(11,975 posts)How does this help Russia? Doesn't a thriving semiconductor industry provide more opportunity to get Putin vital products that Russia has zero chance of making on their own?
North Coast Lawyer
(81 posts)Without revitalization China will dominate the semiconductor industry. If Trump isn't the agent of foreign powers he's doing a damn good job imitating one.
HarryM
(350 posts)To the tune of $100 billion?
He announced yesterday, 4 March, that TSMC was going to build a plant in Arizona, with an investment of $100 billion.
WTF is going on?
https://www.reuters.com/video/watch/idRW599804032025RP1/
Blue Full Moon
(2,034 posts)It was put in place by Biden to protect the automobile industry from the disaster that occurred. The one & only plant was in another country and it burnt down. So, none of the auto industry had the chips to build, and that's lots of American jobs. Trump is a complete moron.
Figarosmom
(5,196 posts)To be made in this country? Isn't that what he says the tariffs on China is about? Or is he going to cut this act and then have congress pass a new act so he can take credit for bringing chip production here?
kimbutgar
(24,833 posts)He just can’t cancel it without congressional approval. Or is he and his Rasputin running this country by fiat ?
NowsTheTime
(1,083 posts)MrSkunkB
(83 posts)I don’t understand why he objects.
JohnSJ
(98,408 posts)have it repealed, then have Congress pass the exact same legislation, and it would be ok.
He is a very sick, demented person. He is NOT normal.