Biden administration is developing a $52 billion semiconductor plan

According to Bloomberg, on July 22, U.S. Commerce Secretary Gina Raimondo said that the Biden administration is developing a $52 billion plan to address semiconductor supply issues, although the U.S. Congress has not yet approved the funds.

Raimondo said: "The Biden administration wants to use funds to support American chip manufacturing, so it is very focused on getting the program elements in place to achieve this goal."

It is reported that the Biden administration is actively pushing the U.S. Congress to approve $52 billion in funds to promote chip production and support semiconductor research and development in the United States, which is a long-term strategy to support chip manufacturing in the United States. The Senate passed the bill in June, but it is still being debated in the House of Representatives and has not yet passed.

In 2020, U.S. semiconductors accounted for half of global sales, about $193 billion, but only 12% of chips were manufactured in the United States.