Posted on 03/13/2024 8:49:00 AM PDT by ChicagoConservative27
The Pentagon’s surprise decision to withdraw $2.5 billion in funding for Intel’s semiconductor manufacturing plans has created a significant shortfall in the company’s expected incentives under the CHIPS Act.
Bloomberg reports that the semiconductor industry’s path to revitalization has hit a snag as the Pentagon abruptly scrapped its plan to contribute $2.5 billion toward Intel’s chip manufacturing grant under the CHIPS Act. This move has disrupted the distribution of funds from the legislation, leaving the Commerce Department scrambling to fill the substantial funding gap.
According to people familiar with the matter, the Pentagon’s withdrawal occurred in the days leading up to a government funding deadline, forcing lawmakers to redirect the Commerce Department to reallocate other CHIPS Act funds to make up the $2.5 billion shortfall. This change could potentially mean a greater portion of Intel’s incentives will be devoted to military and intelligence-related chip production, rather than commercial purposes.
(Excerpt) Read more at breitbart.com ...
There are very few USA companies with advanced fabrication skills.
Well of course, the Biden regime is on the take from the Chinese.
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