{"id":1634492,"date":"2022-09-06T16:19:40","date_gmt":"2022-09-06T20:19:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1634492"},"modified":"2022-09-06T16:19:49","modified_gmt":"2022-09-06T20:19:49","slug":"u-s-commerce-aims-to-seek-chips-funding-proposals-by-february","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-commerce-aims-to-seek-chips-funding-proposals-by-february\/","title":{"rendered":"U.S. Commerce aims to seek chips funding proposals by February"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-commerce-aims-to-seek-chips-funding-proposals-by-february%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1634492&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By David Shepardson<\/p>\n<p>WASHINGTON (Reuters) -The U.S. Commerce Department said Tuesday it hopes by February to begin seeking applications for $39 billion in government semiconductor chips subsidies to build new facilities and expand existing U.S. production.<\/p>\n<p>Congress in August approved $52.7 billion for semiconductor manufacturing and research and a 25% investment tax credit for chip plants, estimated to be worth $24 billion. That credit applies to projects that start construction after Jan. 1.<\/p>\n<p>\u201cWe\u2019re going to negotiate these deals one-at-a-time,\u201d Commerce Secretary Gina Raimondo told reporters, adding they would need companies to prove government funding is absolutely necessary for production. \u201cThey\u2019re not going to get anymore than necessary to make these investments,\u201d she added.<\/p>\n<p>President Joe Biden signed the legislation to boost efforts to make the United States more competitive with China and to subsidize U.S. chip manufacturing in a bid to alleviate a persistent chips shortage that has affected everything from washing machines and video games to cars and weapons.<\/p>\n<p>Commerce said Tuesday \u201cfunding documents, which will provide specific application guidance\u2026 will be released by early February 2023. Awards and loans will be made on a rolling basis as soon as applications can be responsibly processed, evaluated and negotiated.\u201d Raimondo said she hopes some money could be awarded by spring.<\/p>\n<p>The department said it plans https:\/\/www.nist.gov\/system\/files\/documents\/2022\/09\/06\/CHIPS-for-America-Strategy.pdf to use $28 billion to \u201cestablish domestic production of leading edge logic and memory chips that require the most sophisticated manufacturing processes available today\u201d and $10 billion for new manufacturing capacity for \u201cmature and current-generation chips, new and specialty technologies, and for semiconductor industry suppliers,\u201d which includes automotive, defense and medical device chips.<\/p>\n<p>The chips bill also includes $11 billion for research spending.<\/p>\n<p>Commerce can use up to $6 billion to support loans or loan guarantees rather than grants and \u201ccould be leveraged to support a $75 billion credit program.\u201d<\/p>\n<p>Raimondo told Reuters in an interview last week the first priority was to get a team in place to oversee the program and then issue \u201chigh level principles and guidelines for how we\u2019re going to be running this program and then we\u2019re going to have a period of pretty intensive stakeholder engagement\u201d over \u201cthe next handful of months.\u201d Raimondo said Tuesday the team would consist of about 50 people.<\/p>\n<p> (Reporting by David Shepardson in Washington and Akanksha Khushi in Bengaluru; editing by Andrew Heavens, Jason Neely, Alexandra Hudson)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/u-s-commerce-aims-to\/file-photo-illustration-picture-of-semiconductor-chips-on-a-circuit\/\"><img decoding=\"async\" class=\"lazy\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI850I1-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI850I1-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/u-s-commerce-aims-to\/the-department-of-commerce-building-is-seen-in-washington-dc\/\"><img decoding=\"async\" class=\"lazy\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI850HR-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI850HR-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By David Shepardson WASHINGTON (Reuters) -The U.S. Commerce Department said Tuesday it hopes by February to begin seeking applications for $39 billion in government semiconductor chips subsidies to build new<\/p>\n","protected":false},"author":66,"featured_media":1889034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1634492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/u-s-commerce-aims-to\/","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1634492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1634492"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1634492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889034"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1634492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1634492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1634492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}