Staff Reports
During President Joe Biden's tenure, the progressive government revealed a substantial investment of $162 million in microchip technology on Thursday. The primary goal? Undoubtedly, to enhance the domestic production of computer chips! Microchip Technology, an Arizona-based manufacturer handpicked by the U.S. Commerce Department, is set to spearhead this expansion. As part of this grand initiative, a Colorado-based facility is slated to undergo $90 million worth of enhancements. Furthermore, an additional $72 million will be poured into the expansion of a factory in Gresham, Oregon.
Biden administration to grow computer chip factories in Colorado and Oregon https://t.co/VeLkCdz9bg https://t.co/VeLkCdz9bg
— Washington Examiner (@dcexaminer) January 4, 2024
This significant funding for microchip development originates from the bipartisan 2022 CHIPS and Science Act, designed to fortify domestic manufacturing, bolster supply chains, and, notably, enhance national security. Does this not seem like government intervention into realms it shouldn't be poking around in? The law allocates billions of dollars specifically for U.S. chip manufacturing. Because, evidently, nothing signifies "overbearing government" quite like pouring funds into the tech industry, right?
Projections anticipate the creation of SEVEN HUNDRED construction and manufacturing jobs over the next decade due to this expansion. With this financial injection from the government, Microchip Technology, the fortunate beneficiary, is poised to triple its production right here in the good old USA. Shouldn't we question why this money isn't being directed towards American-made products rather than outsourcing to countries like Thailand and the Philippines?
Lael Brainard, the director of the White House National Economic Council and a staunch supporter of government subsidies, boldly stated, "Semiconductors are the key input in so many goods that are vital to our economy." Is this statement serious? Because as far as this writer knows, the free market was thriving without government interference.
