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The Chips Act would provide an enormous subsidy to chipmakers for making their chips in the US. This is extortion
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Graham Watson
June 26, 2022 10:29 AM
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Robert Reich is of the view that the Chips Act, which proposes to provide a subsidy for US computer chip manufacturers. However, he argues that this is indefensible - most of the supposedly US firms are unlikely to manufacture them in the US, and some of the firms aren't even American, although they might appears so at first sight.
In addition, Intel, which is cited as an example made $79bn in revenues last year so, Reich argues, why should they be subsidised at all?