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.

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.