This article first appeared in The Edge Malaysia Weekly, on August 1, 2022 - August 07, 2022. The CHIPs Act will set aside US$52 bil in subsidies for the US semiconductor industry. (Photo by Bloomberg) - A + A ON July 27, the US Senate finally passed the much-heralded CHIPS Act, which will pave the way for government subsidies for the production of high-end semiconductors. There was rare bipartisan 64-33 support for the US$280 billion legislation that could help America build up critical tech capacity to help boost its economy and national security. The landmark bill is probably the most important piece of US legislation that will pass both houses before November’s mid-term elections that the Republican Party is poised to win, taking control of both the chambers ahead of the 2024 presidential elections in which former President Donald Trump will likely be on the ticket. The Biden administration was able to push the legislation through with some Republican … [Read more...] about Tech: CHIPS Act will transform global semiconductor industry