CHIPS Act recipients must provide child care, said Commerce Secretary Gina Raimondo.Brendan Smialowski/Agence France-Presse — Getty Images Social policy through semiconductors When the bipartisan CHIPS Act passed last year to provide $52 billion to promote chip-building in America, trade experts hailed it as the most significant investment in industrial policy in a half-century. But new disclosures about what companies must do to get the CHIPS money — including guaranteeing child care for workers and refraining from stock buybacks — show that the Biden administration is also keen on using federal dollars to reshape corporate America. The CHIPS Act is increasingly about more than, well, chips. To be sure, the law is meant to revive America’s semiconductor industry by funding research and manufacturing in the U.S., reducing a reliance on foreign production for critical tech components. It’s also been described as a national security measure . (It’s worth noting that lawmakers from both parties have already questioned whether the already-profitable chip industry needs such funding.) But there are strings attached to the money: Those seeking $150 million or more must guarantee affordable, high-quality child care for plant workers. (Some of the federal subsidies can go toward meeting the requirement.) Commerce […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
