The CHIPS and Science Act of 2022: Origins and Consequences

In this paper, I provide background and analysis of the policies adopted by the Biden administration to support investment in semiconductor manufacturing in the United States, focusing on the CHIPS and Science Act of 2022. I contrast the Biden administration’s policies with those of the Trump administration. I compare policies adopted for the promotion of US semiconductor manufacturing with those adopted in western Europe and East Asia. Finally, I propose alternative strategies for addressing the strategic vulnerabilities of the US industry based on these comparisons.