America's Microchip Resurgence Runs Through New York
The U.S. used to produce 37% of the world's semiconductors; today the figure is 12%. Congress and innovative states can reverse the slide.
Small world.
Photographer: Liesa Johannssen-Koppitz/Bloomberg
As the U.S. economy continues to recover from Covid-19, one critical shortage in the global supply chain is touching every aspect of our lives: a severe lack of microchips.
The U.S. Senate, under the leadership of Majority Leader Chuck Schumer of New York, has passed bipartisan legislation containing provisions for the CHIPS Act, which stands for Creating Helpful Incentives to Produce Semiconductors for America. It would invest $52 billion to create a pipeline of chip manufacturing across the country. It would also form a National Semiconductor Technology Center that would bring together leaders in industry, academia and government to put the U.S. back in the lead in semiconductor research and development.