President-elect Donald Trump is heading back to the White House, raising questions about the future of the CHIPS and Science Act, a multibillion-dollar legislation aimed at boosting American semiconductor manufacturing. Arizona has benefited significantly from the act, with multibillion-dollar grants for companies like Intel and Taiwan Semiconductor Manufacturing Co.
Trump recently criticized the CHIPS Act, calling it “bad” and stating that Taiwan had “stolen our chip business.” However, US House Speaker Mike Johnson hinted that Republicans might try to repeal the act. State Senator Mark Kelly warned that such a move would “undo all of this hard work” and harm Arizona’s economy.
Despite these concerns, some industry leaders remain optimistic about Trump’s commitment to American manufacturing. Chris Camacho, president of the Greater Phoenix Economic Council, said more than 35 companies have announced plans to expand or relocate to Arizona due to investments in TSMC and Intel.
Camacho expressed hope that Trump would remember the bipartisan origins of the CHIPS Act and continue investing in domestic manufacturing. Arizona Chamber of Commerce president Danny Seiden also sees opportunities for improvement in the legislation, including expansion of funding to support energy generation.
Industry leaders are monitoring developments closely, as the fate of the CHIPS Act hangs in the balance. The act has driven significant growth in Arizona’s semiconductor industry, but its future is uncertain under a potential Trump administration.
Source: https://www.axios.com/local/phoenix/2024/11/06/trump-semiconductors-chips-act-repeal-arizona