President Joe Biden speaks to employees at a Lockheed Martin facility which manufactures weapon systems such as Javelin anti-tank missiles, on May 3, 2022 in Troy, Alabama. (Photo by Julie Bennett/Getty Images)
The CHIPS Act is intended to boost domestic production of semiconductors that are critical for U.S. military systems and a wide variety of commercial products.
WASHINGTON, DC – APRIL 28: U.S. President Joe Biden gestures as he gives remarks on providing additional support to Ukraine’s war efforts against Russia from the Roosevelt Room of the White House on April 28, 2022 in Washington, DC. Alongside a new supplemental aid request to the U.S. Congress, President Biden proposed turning assets from Russian oligarchs seized through sanctions into funding to rebuild Ukraine. (Photo by Anna Moneymaker/Getty Images)