Politics Drive Semiconductor Subsidies

Amidst mounting pressure from the Biden administration and led by Senate Majority Leader Chuck Schumer, the Senate last night began a final push to fast‐​track $76 billion in new taxpayer subsidies for domestic semiconductor manufacturers. (The initial subsidy proposal was a mere $16 billion, but—unlike in the real world—inflation has always been a problem in Washington.) House Democratic leadership has also signaled their desire to quickly approve the subsidies, should the Senate send them a final package. Read Full Article »