Why is the U.S. spending $280 billion to bolster the microchip industry?

Alex Cochran, Deseret News

A massive $280 billion federal proposal aimed at bolstering the once-dominant U.S. microchip industry drew bipartisan support in both the House and Senate and is virtually assured of earning the signature of President Joe Biden, who championed the effort from the outset.

While the idea to provide U.S. chip makers a powerful, government-funded boost has been bouncing around for more than a year, what gives the microchip industry its current global significance may have been a little hard to parse if you haven’t been paying close attention to the industry.

The inside of a computer is seen on Feb. 23, 2019, in Jersey City, New Jersey. A global computer chip shortage has made it harder for consumers to get their hands on cars, computers and other modern-day necessities, so Congress is looking to boost …read more

Source:: Deseret News – Utah News

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