Listen to a reading of this article: House Speaker Nancy Pelosi has continued to pour gasoline on the foreign policy dumpster fire that is her planned visit to Taiwan next month, now reportedly encouraging other members of congress to come along for the ride.
$52 billion to inevitably offshore chip production to a different developing nation, good stuff :brrrrrrrrrrrr:
Did they remove the most be built in usa part of the bill?
I would be shocked if any sizeable portion of that money goes to building anything instead of stock buybacks. We've seen this same song and dance with the telecomm industry putting down fiber and the airlines during COVID.
This song and dance goes back decades. I still remember the first one I learned about was when the government gave billions to airlines in the 70s in order to prevent them from doing mass layoffs, and the airlines did the layoffs anyway.
They'll probably just do the bare minimum of final assembly to count as built in the USA. So, build 95% of the chip with slaves in Qatar or something then run it through a "rubber stamp" factory (that's just a warehouse) with ten MIC grifter guys running it.
With chips specifically they don't really need cheap labor. You aren't hand crafting a chip at 5nm
No idea, I just assume any manufacturing done in the US will invariably go somewhere with lower operating costs in the shortsighted pursuit of profit
Bernie couldn't even get an amendment that prevents them from using the money on stock buybacks.
Amazing