The Semiconductor Industry Is Coming for Your Wallet — As Usual, Congress Is Complicit

Of all the problems in the world right now, the chip shortage probably isn’t the chief concern for most people, but that doesn’t mean it’s not a serious issue. The auto and tech sectors have faced unprecedented delays and rising prices in recent months. Some used cars are even selling for more than their new counterparts because of the delays, a sure sign that production has slowed dramatically.

To address this, Congress is contemplating bipartisan legislation known as the Chips Act, which would provide $52 billion in grants and $24 billion in tax credits to the US semiconductor industry. Thanks to a last-minute bipartisan amendment, the bill will also put tens of billions of dollars toward various federal agencies, bringing the total price tag to $250 billion.

Because why not…

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Author: HP McLovincraft

Seeker of rabbit holes. Pessimist. Libertine. Contrarian. Your huckleberry. Possibly true tales of sanity-blasting horror also known as abject reality. Prepare yourself. Veteran of a thousand psychic wars. I have seen the fnords. Deplatformed on Tumblr and Twitter.

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