Senator Sanders Backs Trump in Strategic Chipmaker Investments

Senator Bernie Sanders supports President Donald Trump's plan to convert government grants into stakes in U.S. chipmakers, ensuring taxpayer returns. The Trump administration is also considering reallocating CHIPS Act funds for critical minerals. A court victory for Trump involved the dismissal of a fraud penalty.

In a surprising political alliance, Senator Bernie Sanders expressed support for President Donald Trump's initiative to transform government grants into stakes within U.S. chipmakers, including a substantial $10.9 billion allocation for Intel. Sanders emphasized the importance of taxpayers receiving a just return on their investment.

Meanwhile, the Trump administration is exploring reallocating $2 billion earmarked under the CHIPS Act for crucial mineral projects to enhance Commerce Secretary Howard Lutnick's influence over this vital sector. This strategic shift aims to reduce U.S. reliance on China for essential minerals integral to defense and electronics.

In legal developments, Donald Trump achieved a significant win with a New York state appeals court nullifying a half-billion-dollar fraud penalty, marking a pivotal moment in his legal battles. This court ruling was a setback for New York Attorney General Letitia James, whom Trump has accused of pursuing a politically motivated legal agenda.

(With inputs from agencies.)