US Picks Team to Oversee $52.7 Billion in Semiconductor Funding
WASHINGTON—The Biden administration on Tuesday named a team of senior advisers to oversee $52.7 billion in government funding to boost semiconductor manufacturing and research.
Commerce Department chief economist Aaron “Ronnie” Chatterji will serve as White House Coordinator for CHIPS Implementation at the National Economic Council (NEC) and will manage the work of the CHIPS Implementation Steering Council created by President Biden’s chips executive order signed last month.
In August, Congress approved $52.7 billion for semiconductor manufacturing and research and a 25 percent investment tax credit for chip plants that is estimated to be worth $24 billion.
NEC Director Brian Deese said Chatterji “will help coordinate a unified approach to our key implementation priorities while ensuring that we have guardrails and oversight in place to responsibly spend taxpayer dollars.”…