March 5, 2025
Trump calls for an end to the Chips Act, redirecting funds to national debt
Why it matters: Donald Trump wants to kill off the Chips Act, the 2022 bipartisan law that is handing out $52.7 billion in subsidies to help bring semiconductor manufacturing back to the US. The President wants to use the money to pay the national debt instead. In his first address to the joint session of Congress since he returned as President, Trump blasted the Chips Act. “Your Chips Act is a horrible, horrible thing. We give hundreds of billions of dollars and it doesn’t mean a thing. They take our money and they don’t spend it,” Trump said. “You should