Not all lawmakers are on board with the subsidies, though a stand-alone measure would likely have enough bipartisan support to pass.
Chief among the opponents is Senate Budget Chairman Bernie Sanders, I-Vt., who delivered another floor speech Wednesday railing against the $52 billion as “a blank check to some of the most profitable corporations in America.”
“In total, it has been estimated that five major semiconductor companies will receive the lion’s share of this taxpayer handout: Intel, Texas Instruments, Micron Technology, GlobalFoundries and Samsung,” Sanders said. “These five companies made $70 billion in profits last year.”
Senate Appropriations ranking member Richard C. Shelby, R-Ala., agreed the $52 billion is just “a big subsidy for some of the biggest companies.”
“They could pay for it themselves,” he said. “Our companies, some of the richest companies in the world, could produce those chips. . . . We're starting to subsidize everything and it's not a good road to go down.”
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July 14, 2022 at 07:04AM
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No easy options as pressure to pass chips funding bill grows - Roll Call
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