TRUMP TO GET RID OF $52.7 BILLION SEMICONDUCTOR CHIPS SUBSIDY LAW – President Trump made the statement while addressing a joint session of Congress
President Donald Trump has said that U.S. lawmakers should get rid of a landmark 2022 bipartisan law to give $52.7 billion in subsidies for semiconductor chips manufacturing and production and use the proceeds to pay debt.
“The CHIPS act is a horrible, horrible thing. We give hundreds of billions of dollars and it doesn’t mean a thing. They take our money and they don’t spend it,” Trump said in a speech to Congress. “You should get rid of the CHIPS Act and whatever is left over, Mr. Speaker, you should use it to reduce debt.”
President Trump made the statement while addressing a joint session of Congress, six weeks into a tumultuous term during which he has upended decades of U.S. foreign and domestic policy and stretched the limits of the presidency.
