Trump Calls for CHIPS Act Repeal: A Blow to Corporate Handouts The Promise vs. The Reality The CHIPS Act, signed into law in 2022, was supposed to be a game-changer. The pitch? Bring semiconductor manufacturing back to America, reduce reliance on China, and secure critical supply chains. But here’s the ugly truth: while the government threw $53 billion at the industry, American workers saw little benefit. Taiwan Semiconductor Manufacturing Company (TSMC), the largest recipient of CHIPS Act funds, was already investing in U.S. factories—long before Biden’s handouts. But rather than creating a domestic production powerhouse, the CHIPS Act allowed foreign companies to take U.S. taxpayer money while maintaining their real operations overseas. So, what did the American people get for…
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