Trump calls for end to Chip Act subsidies

Trump Calls for End to $52 Billion Chips Act Subsidy Program

President Donald Trump called on Speaker Mike Johnson to repeal a bipartisan law designed to boost domestic chipmaking.

• “Your CHIPS Act is a horrible, horrible thing. We give hundreds of billions of dollars, and it doesn’t mean a thing,” Trump said in a joint session of Congress on Tuesday. “Whatever’s left over, Mr. Speaker, you should use it to reduce debt or any other reason you want to.”

The Chips Act, a bipartisan law signed by former President Joe Biden in 2022, set aside $39 billion in grants ...