Biden administration appoints monitors for $52 billion in chip spending

The White House and the Commerce Department on Tuesday announcement the team that will oversee the awarding of $52 billion in federal subsidies to the semiconductor industry, pledging strict oversight to “spend taxpayer dollars responsibly.”

The distribution of money provided for in the Chips and Science Act will be one of the largest industrial development programs the federal government has ever administered.

Ronnie Chatterji will oversee the White House National Economic Council program, managing the interagency coordination of an effort to subsidize the construction of computer chip factories and research facilities in the United States. Chatterji previously served as Chief Trade Economist and Professor at Duke University’s School of Business.

Michael Schmidt will lead the new chip program office at Commerce, which is expected to review industry applications for building chip factories. He previously managed the implementation of the Child Tax Credit program at the Treasury Department.

A separate chip research and development office at Commerce that will review applications for R&D funding will be overseen by Eric Lin. He holds a doctorate in chemical engineering and was previously director of the Materials Measurement Laboratory at the National Institute of Standards and Technology.

Management, which is still hiring additional staff, will be “essential to strengthening our supply chains, boosting historic investments in research, strengthening our national security and creating well-paying jobs for the American people,” the secretary said. Trade, Gina Raimondo. statement.

Source link

Comments are closed.