House Speaker Mike Johnson hinted that if the GOP wins a majority in Congress, they may seek to repeal the CHIPS Act, which allocates $280 billion for semiconductor manufacturing.
Republican Congressman Brandon Williams voiced strong support for the CHIPS Act, emphasizing its critical importance to his district and promising to lobby against any repeal efforts in Congress.
The CHIPS and Science Act, signed into law in mid-2022, earmarked $53 billion, including $39 billion in subsidies, for fostering semiconductor manufacturing in the U.S.
Former President Donald Trump criticized the CHIPS Act as 'so bad' and expressed views on Taiwan's role in the semiconductor industry, suggesting it negatively impacts U.S. interests.
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