CHIPS Act (H.R. 4346)

Simply a political show

7/27/22
from The Gray Area:
7/27/22; updated 7/29/22:
The CHIPS Act fails at every level. Sound & Fury, signifying nothing. Elements of the CHIPS Act are inherited from the COMPETES Act and USICA. It is 'deeply flawed'. CHIPS is a failure based on what’s in it and what it lacks. Frankly, it is unacceptable that this is the best bill Congress could come up with to protect American interests and counter the CCP’s evil influence and ambitions
  • It provides corporate welfare to a profitable industry that has already ramped production to catch up with the chip shortage.
  • It does nothing to alleviate US regulations to bringing production home, thereby leaving it in China factories.
  • Companies will use that subsidy money to bolster their manufacturing operations in China.
  • As a result of leaving manufacturing in Chinese factories, the bill will just sends US taxpayer funds to China.
If Congress really wanted to do something about the chip manufacturing problem in the US, they would address labor and regulatory reforms rather than subsidies. In the real world, what these policies do is add to our deficit, fuel more inflation, waste resources, breed unfairness and hinder growth. All this according to the two articles below: More From Right & Free: More From Heritage Foundation:


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