Biden seeks $50 billion to aid U.S. chip makers

Biden seeks $50 billion to aid U.S. chip makers

WASHINGTON — President Joe Biden’s expansive infrastructure proposal includes $50 billion for the American semiconductor industry, whose lobbying efforts have gained momentum amid a global chip shortage and fears that China might be overtaking the U.S. in a critical technology.

Biden’s plan, released Wednesday, seeks to leverage bipartisan support on Capitol Hill to subsidize domestic manufacturing and chip research. The $50 billion will go toward production incentives and research and design, including the creation of a National Semiconductor Technology Center, administration officials said.

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