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The “Chips” Are Down

One of the themes of the Hotline is that if you want to destroy an industry, have the government subsidize it.

The CHIPS Act was supposed to bring the semiconductor industry back home with a cool $39 billion in semiconductor subsidies. It isn’t happening.

Intel just announced it’s delaying a New Albany, OH factory. The Taiwan Semiconductor Manufacturing Company (TSMC) has delayed production at its second Arizona facility. Samsung just delayed its first Texas plant. How to explain the anomalous behavior?

Three words: Diversity, equity, and inclusion (DEI)  requirements that Biden and the Dems attached to the federal dollars. According to one analysis published in The Hill:

“The law contains 19 sections aimed at helping minority groups, including one creating a Chief Diversity Officer at the National Science Foundation, and several prioritizing scientific cooperation with what it calls “minority-serving institutions.”

Cole and Nicholson claim: “The CHIPS Act’s current identity as a jobs program for favored minorities means companies are forced to recruit heavily from every population except white and Asian men already trained in the field.”

Wait! This nonsense is going to make American tech companies more competitive? Really?

Unleash Prosperity Hotline


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