US Senate Approves: $280 Billion Budget for the Chip Industry

Chip announcement came from the US Senate. The Senate announced that they approved the bill that envisages 280 billion dollars of aid to the chip production sector. US President Joe Biden stated that with the bill, chip production will increase in the country, which will reduce the price of many products from cars to dishwashers.

The US Senate General Assembly voted on the bill titled CHIPS today. It was noted that the bill, which was accepted with the "yes" vote of 64 senators against the "no" vote of 33 senators, is expected to be voted in the General Assembly of the House of Representatives for the bill to become law, and then to receive the signature of US President Joe Biden. With the chip bill, it is aimed to reduce the US' dependence on chips produced by China and other global powers in military hardware and other industries, while the bill, which is prepared to increase local semiconductor production, is expected to alleviate the chip shortage that causes disruption in production. The bill, which has a total budget of $280 billion, includes a $52 billion subsidy to companies producing chips in the US and $81 billion to the National Science Foundation (NSF) for semiconductor production, as well as a 25 percent tax cut to encourage the establishment of semiconductor factories. Will it affect car markets? The zero-car market has been on the rise due to the chip crisis. The approval of this bill could also lead to a drop in the car market.

---

You may also be interested in this:

Russia-Ukraine War Leads to Chip Crisis Companies that supply many raw materials such as chips, palladium, neon gas and nickel used in the production of electronic products from Russia are having a hard time due to the war. Chip is the name given to a group of electronic circuits placed on a metal plate. Chip technology is known as technological tools in very small sizes. It has been revealed that countries importing electronic parts, including Turkey, are experiencing difficulties in product supply due to the Russia-Ukraine war. With the increase in this chip crisis, it was stated that consumers may experience difficulties in accessing electronic goods such as computers, phones, televisions, tablets, white goods in the coming days. For more news... https://ieconomy.io/rusya-ukrayna-savasi-cip-krizine-yol-acti/