The Chips and Science Act was approved by the US House of Representatives on Thursday, by 243 to 187. Grants and incentives for the semiconductor sector are part of the legislation, which was brought into the Senate more than a year ago. The White House Office of Science and Technology Policy (OSTP) will now have a blockchain and cryptocurrency expert on staff.
On Wednesday, the measure was approved by the Senate. All in all, it will cost a whopping $280 billion, with grants and incentives totaling $52 billion going to U.S. semiconductor makers in the face of severe Chinese competition, and $170 billion going to research. It’s also anticipated to help with the industry’s supply chain woes.