Trump Launches New Office to Accelerate CHIPS Act Investments and Boost Tech Sector

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(GudangMovies21) -On Monday, President Donald Trump issued an executive order establishing a new body to assume control of the CHIPS Act initiative and accelerate business investments within the United States.

The U.S. Investment Accelerator at the Commerce Department will be responsible for executing the provisions of the CHIPS and Science Act, which was established as legislation in 2022 providing $52.7 billion in incentives for semiconductors fabrication and manufacturing.

Trump has consistently criticized the bipartisan CHIPS Act, which was signed into law by former President Joe Biden in August 2022. Previously, in March, he stated that U.S. legislators should repeal it and utilize those funds to address national debt.

The new office will handle "securing more advantageous CHIPS Act agreements compared to those of the prior government," according to the White House statement, which did not offer additional specifics about the negotiations.

The Investment Accelerator aims to motivate businesses to significantly invest in the U.S. by easing regulations, expediting permit processes, collaborating with federal agencies and state governments, and boosting access to national assets, as outlined in a fact sheet from the White House.

(Reported by Ryan Patrick Jones; Edited by Nia Williams)

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