- The Biden administration will require semiconductor manufacturers seeking billions in new federal subsidies to ensure affordable childcare for their workers, limit stock buybacks and share excess profits.
- Congress passed the $52B CHIPS Act (2022) to expand US semiconductor manufacturing to make America less dependent on foreign suppliers (eg China).
- Child care allocations could include building daycares near new factories or directly subsidizing childcare costs.
- Bidders will also be required to submit financial projections, with the government entitled to share in any unanticipated profits.
Biden’s Semiconductor Plan Flexes the Power of the Federal Government