A new bill passed the approval of the House regarding the Chip Production and Supply Chain Infrastructure under America COMPETES Act of 2022. The goal is to boost the production of the chip and answer its shortage in the country that sees a massive problem in the coming years. Also, the bill aims to compete with China in its control and dominance in the chip market.
House Approves Bill for Chip Production Under COMPETES Act
According to a press release by the Office of Congresswoman Madeleine Dean of Pennsylvania's Fourth District, the House gave a majority vote to the bill that aims to answer the chip production assistance. The bill under the "COMPETES" act aims to bring as much as $300 billion worth of assistance to companies producing the said computer processors.
Now that it is approved by Congress, the bill will push forward to other offices and parties that it will pass through for approval until it reaches the President of the United States until its establishment. The bill aims to help the country compete with chip production center, China, and its dominance on the market to provide the technology world with the materials it needs.
Read Also: Ford to Limit Output at Several North American Plants Due to Chip Shortage
House Approval: Still Has a Catch to Proceed to POTUS
However, according to Gizmodo, there are still many factors to consider and places it will pass before it reaches POTUS Biden for his final approval. That means it may have a slim chance of even getting to Biden's office as it will have to pass several parties that may counteract the bill or veto it before it gets to the final say.
For now, the bill needs the full support and approval of all parties for it to work.
Chip Shortage in the Country: How Bad?
It is a sad sight to see that several technology manufacturers and companies are losing revenue because of the global chip shortage that the industry is experiencing now. The Intel CEO, Patrick Gelsinger, predicts that the chip problems now will continue until 2023 and that the entire industry that uses it to make different tech work will experience its obstacles.
Multiple companies are cutting back on their production and supplies to alleviate the chip shortage problems they encounter for their business to survive. It includes the likes of Apple, Nintendo, General Motors, Sony, and more in the present era.
BMW's solution to this is to remove its touchscreen interface on the infotainment systems of its vehicles to help the crisis it experiences now.
The chip shortage and issues in the country are severe, coming to a point where production lessens and the quality of its products suffers from the problem.
However, lawmakers have a solution to it and it is to help and promote the businesses of the country to make more of the processors via assistance programs that need the full support of all parties.
Related Article: Foxconn Says Chip Shortage Will Last Until Mid-2022 and Cause Production Delays
This article is owned by Tech Times
Written by Isaiah Richard
