President Trump urges Congress to 'get rid of the CHIPS Act' which would impact Intel

SYRACUSE, N.Y. (WSYR-TV) — President Donald Trump called on lawmakers to repeal the CHIPS and Science Act during his March 4 address to Congress, possibly putting a target on the money already allocated for Micron’s $100 billion project in Central New York.

“You should get rid of the CHIPS Act, and whatever’s left over, Mr. Speaker, you should use it to reduce debt, or any other reason you want to,” said Trump.

The CHIPS and Science Act is the law used to entice Micron to move to Central New York. Federal funding that ensures Micron’s $100 billion mega fab in the Town of Clay is part of a legally binding, signed contract between the federal government and Micron.

Onondaga County Executive Ryan McMahon posted on social media during the early morning hours of March 5 to ensure Central New Yorkers that Micron is still on.

“First and foremost, the Micron project is full steam ahead!” said McMahon. “The comments made by the President tonight clearly state that he believes any funding that may remain should be reallocated. This does not apply to the Micron project.”

McMahon explained his administration has been working with Trump’s administration and multiple federal agencies to help keep Micron on track.

“Lastly, it is worth noting that the Secretary of Commerce, Howard Lutnick, has previously told lawmakers that the CHIPS act is ‘an excellent down payment’ to rebuild the sector. At this point any insinuation that funding for the historic investment being made by Micron is in jeopardy is misguided,” said the county executive.

Back in December 2024, Senator Chuck Schumer said that the money is “locked in” and would support the first of four promised fabs.

no kidding. lotta dough involved. reading about in in WIKI

https://en.wikipedia.org/wiki/CHIPS_and_Science_Act

The CHIPS and Science Act is a U.S. federal statute enacted by the 117th United States Congress and signed into law by President Joe Biden on August 9, 2022. The act authorizes roughly $280 billion in new funding to boost domestic research and manufacturing of semiconductors in the United States, for which it appropriates $52.7 billion.[1][2][3] The act includes $39 billion in subsidies for chip manufacturing on U.S. soil along with 25% investment tax credits for costs of manufacturing equipment, and $13 billion for semiconductor research and workforce training, with the dual aim of strengthening American supply chain resilience and countering China.[4][5]: 1 It also invests $174 billion in the overall ecosystem of public sector research in science and technology, advancing human spaceflight, quantum computing, materials science, biotechnology, experimental physics, research security, social and ethical considerations, workforce development and diversity, equity, and inclusion efforts at NASA, NSF, DOE, EDA, and NIST.[6][7][8][9][10][11]

The act does not have an official short title as a whole but is divided into three divisions with their own short titles: Division A is the CHIPS Act of 2022 (where CHIPS stands for the former "Creating Helpful Incentives to Produce Semiconductors" for America Act[12]); Division B is the Research and Development, Competition, and Innovation Act; and Division C is the Supreme Court Security Funding Act of 2022.[13] By March 2024, analysts estimated that the act incentivized between 25 and 50 separate potential projects, with total projected investments of $160–200 billion and 25,000–45,000 new jobs. However, these projects are faced with delays in receiving grants due to bureaucratic hurdles and shortages of skilled workers, both during the construction phase and upon completion in the operational/manufacturing stage, where 40% of the permanent new workers will need two-year technician degrees and 60% will need four-year engineering degrees or higher.[14][15][16] In addition, Congress had routinely made several funding deals that underfunded key basic research provisions of the Act by tens of billions of dollars.[17][18]

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