https://www.siliconvalley.com/2022/08/09/biden-signs-bill-boosting-us-chip-manufacturing-as-he-kicks-off-victory-lap/

President Joe Biden on Tuesday signed into law a bill aimed at boosting American chip manufacturing as he kicked off a victory lap to celebrate a string of wins in Washington.

The CHIPS and Science Act will invest more than $200 billion over the next five years in a bid to help the US regain a leading position in semiconductor chip manufacturing. It is aimed at lowering the cost of goods, making the US less reliant on foreign manufacturing and mitigating supply chain disruptions in the wake of the Covid-19 pandemic.