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Trump Pushes Congress to Repeal $52.7B CHIPS Act

3/7/2025

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Summary

Story summary

President Donald Trump is urging Congress to repeal the 2022 CHIPS and Science Act, which provided $52.7 billion in subsidies for semiconductor manufacturing, labeling it ineffective. He believes the remaining funds should be redirected to tackle the national debt. This call to action coincides with TSMC's ambitious $100 billion investment in U.S. facilities, casting uncertainty over the act's future.

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Story summary

President Donald Trump is urging Congress to repeal the 2022 CHIPS and Science Act, which provided $52.7 billion in subsidies for semiconductor manufacturing, labeling it ineffective. He believes the remaining funds should be redirected to tackle the national debt. This call to action coincides with TSMC's ambitious $100 billion investment in U.S. facilities, casting uncertainty over the act's future.