President Biden Signs CHIPS And Science Act In Effort To End Semiconductor Shortage
President Joe Biden is signing the CHIPS and Science Act today. This piece of legislation is meant to invest in the manufacturing of semiconductors in the United States, which in turn could alleviate the supply issues with video game consoles.
According to the House Science, Space, and Technology Committee’s website, the CHIPS and Science Act will increase the production of American-made semiconductors in order to tackle the country’s supply chain vulnerabilities.
Today, I sign into law the CHIPS and Science Act. It’s a once-in-a-generation law that invests in America by supercharging our efforts to make semiconductors here at home.
Today represents a more secure economy, jobs, and a stronger future for our nation.
America is delivering.
— President Biden (@POTUS) August 9, 2022
“This legislation represents months of bipartisan and bicameral negotiations. The majority of this bill is made up of bipartisan provisions that started in the House Committee on Science, Space, and Technology—which I am privileged to lead,” says Science, Space, and Technology Committee Chairwoman Eddie Bernice Johnson.
She continues, “We’re building a diverse STEM workforce ready to tackle the challenges we face, we’re strengthening our manufacturing capabilities, we’re revitalizing American science and innovation, we’re fighting the climate crisis, and so much more. And we’re doing it all with the needs of each and every American in mind.”
The semiconductor shortage has been impacting video game consoles like the Nintendo Switch, which has declined in console sales this year by 23% compared to the last fiscal year. Intel CEO Pat Gelsinger previously stated that the shortage was expected to last until 2024. Hopefully, with the signing of the CHIPS and Science Act, people will be able to pick up new generation consoles like the PS5 and Xbox Series X|S soon.
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