CHIPS and Science Act
The CHIPS and Science Act is a U.S. federal statute enacted by the 117th United States Congress and signed into law by President Joe Biden on August 9, 2022. The act authorizes roughly $280 billion in new funding to boost domestic research and manufacturing of semiconductors in the United States, for which it appropriates $52.7 billion. The act includes $39 billion in subsidies for chip manufacturing on U.S. soil along with 25% investment tax credits for costs of manufacturing equipment, and $13 billion for semiconductor research and workforce training, with the dual aim of strengthening American supply chain resilience and countering China.: 1 It also invests $174 billion in the overall ecosystem of public sector research in science and technology, including in NASA, the DOE, and NIST.
| Other short titles |
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| Long title | Making appropriations for Legislative Branch for the fiscal year ending September 30, 2022, and for other purposes |
| Nicknames | CHIPS-Plus |
| Enacted by | the 117th United States Congress |
| Effective | August 9, 2022 |
| Citations | |
| Public law | Pub. L. 117–167 (text) (PDF) |
| Statutes at Large | 136 Stat. 1366 |
| Legislative history | |
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The act does not have an official short title as a whole but is divided into three divisions with their own short titles: Division A is the CHIPS Act of 2022 (where CHIPS stands for "Creating Helpful Incentives to Produce Semiconductors"); Division B is the Research and Development, Competition, and Innovation Act; and Division C is the Supreme Court Security Funding Act of 2022.