Trump Criticizes CHIPS Act Amid Arizona Semiconductor Growth
Phoenix, AZ – In a recent Oval Office meeting, former President Donald Trump criticized the CHIPS Act, questioning its effectiveness in supporting Arizona’s semiconductor industry. The Act has provided billions to companies like Taiwan Semiconductor Manufacturing Company (TSMC) and Intel for investments in the state, but concerns are rising regarding potential funding reductions.
“The CHIPS Act was a ridiculous thing… all we did was hand very wealthy companies money,” Trump stated, fostering a debate about the funding. Congressman Greg Stanton countered Trump’s remarks, asserting that the Act has significantly bolstered the semiconductor sector in Arizona. He cited TSMC’s $60 billion investment in north Phoenix and Intel’s $20 billion in Chandler as evidence of the Act’s success, emphasizing that Arizona has outperformed other states in attracting investment.
Danny Seiden, CEO of the Arizona Chamber of Commerce, echoed this sentiment, noting that while the administration of the Act could improve, its impact has been overwhelmingly positive. Both TSMC and Intel have pledged to generate 65,000 jobs in Arizona. Stanton highlighted the semiconductor industry’s crucial role in the global economy, asserting the importance of maintaining a competitive edge in this sector.
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