The new CHIPS and Science Act will bring semiconductor chip manufacturing to the U.S.

President Joe Biden signed the CHIPS and Science Act of 2022 into law Tuesday, which allocates $53 billion dollars in federal funding to manufacture semiconductor chips domestically.

AILSA CHANG, HOST:

All right, stop for a moment and look around your car, your desk, your kitchen. How many high-tech gadgets do you see? I mean, look – your laptop, your cell phone, your TV, all of those things – they need semiconductor chips in order to function. And most of those chips are not made in the U.S. Now, the Biden administration is determined to change that. So today, the president signed the

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