The Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act

The CHIPS and Science Act (also referred to as CHIPS or CHIPS+) is a $280 billion comprehensive legislative and funding package aimed at, among other goals, supporting domestic semiconductor R&D and manufacturing.  The overall funding package is divided into three parts:
 

• Division A  the CHIPS Act which provides funding support for the domestic semiconductor production and R&D activity in the form of government grants and manufacturing tax credits
• Division B: Research and Development, Competition, and Innovation Act which increases authorized budgets for various US federal government agencies and research institutes to support early stage R&D activity in the basic sciences. Funding covers a wide range of basic science and technology sectors, including energy and carbon sequestration related R&D.
• Division C: Provides additional appropriation to provide security for the Supreme Court of the United States. 

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