The CHIPS Act: Split Politics and Potential Concerns

In this chapter, they discuss the recent passing of the CHIPS Act in the Senate, which provides grants and incentives to the US computer chip industry to compete with China. They mention that the Act has split US politics, with some Democrats and independents voting against it. They also explore the reasons behind the opposition, such as concerns about the discretion given to the Commerce Department and potential lack of guardrails to prevent companies from using the funding to boost production in China. They highlight the importance of domestic chip manufacturing for consumers and defense purposes, and question whether the Act will effectively achieve its goals.