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U.S. Senate moves ahead with $52bn CHIPS Act

Updated: Jul 31, 2022

The U.S. Senate voted to move forward with the US$52 billion CHIPS Act on 26th July, more than a year after the initial version of the bill was passed. The bill promises tax breaks and subsidies for companies investing in semiconductor manufacturing in America and has been positioned by lawmakers as a key part of the ongoing U.S.-China competition both economically and as a matter of national security.

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