The House of Representatives passed the CHIPS and Science Act of 2022 with bipartisan support, paving the way for President Joe Biden to sign the Bill into law.
Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, which will further boost U.S. manufacturing sector and global competitiveness, was approved by 243-to-187 votes. The Bill received the support of 24 House Republicans, an indication of broader support for efforts to kickstart domestic semiconductor production in the United States.
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Political News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.