President Donald Trump announced his intention to end the CHIPS Act, a bipartisan legislation passed during the Biden Administration aimed at boosting the US semiconductor industry. The act lured Micron to agree to build a massive plant in Central New York with a $6.1 billion deal.
Trump criticized the existing law, stating that it is “a horrible thing” and that companies are coming to the US because they won’t have to pay tariffs if they invest domestically. He suggested repurposing any leftover funds from the CHIPS Act to reduce national debt or for other purposes.
The CHIPS Act was designed to facilitate the development of a semi-conductor chip manufacturing facility in Clay, New York, with Micron as the lead partner. However, groundbreaking has yet to occur, and politicians at every level of government have assured that the project will survive Trump’s administration.
Source: https://cnycentral.com/news/local/get-rid-of-the-chips-act-president-trump-to-congress-micron-funding-in-doubt