U.S. Secretary of Commerce Gina Raimondo said Monday on CNBC that the United States’ goal is not to be “self sufficient” when it comes to producing chips.
The Senate passed the multi-billion dollar CHIPS Plus Act in July which includes billions for semiconductor manufacturing through 2025, tax credits for semiconductor manufacturing in the U.S., and $200 billion for federal science, technology, engineering, and mathematics research. The Commerce Department recently unveiled its plan to implement the act, requiring companies to provide affordable childcare for employees among other expenses in order to qualify for federal aid.
Raimondo was asked Monday about the act on “Squawk on the Street.”
