Trump Calls for Repeal of CHIPS Act Subsidies
Former President Donald Trump urged lawmakers to repeal the bipartisan 2022 CHIPS Act, which provides $52.7 billion in subsidies for semiconductor manufacturing, suggesting the funds should instead be used to pay off national debt.
Devdiscourse News Desk | Washington DC | Updated: 05-03-2025 08:47 IST | Created: 05-03-2025 08:47 IST
- Country:
- United States
Former President Donald Trump has called on U.S. lawmakers to repeal the CHIPS Act, a landmark bipartisan law from 2022 that allocates $52.7 billion in subsidies for the semiconductor industry. Trump suggested redirecting these funds towards paying off the national debt.
In his speech to Congress, Trump criticized the Act as ineffective and a poor use of federal funds, claiming it did not fulfill its intended purpose. "The CHIPS Act is a horrible, horrible thing," he stated.
Trump's comments have sparked debates over the future of semiconductor policy and the best approach to managing national debt.
(With inputs from agencies.)
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