Biden Administration Announces Priorities for the Implementation of the CHIPS Act of 2022

Covington & Burling – On August 25, 2022, President Biden announced a new Executive Order addressing the Implementation of the CHIPS Act of 2022.  The CHIPS Act was signed by President Biden on August 9, 2022, and, among other things, authorizes $39 billion in funding for new projects to establish semiconductor production facilities within the United States.  The new EO identifies the Administration’s implementation priorities for this CHIPS Act funding and creates the CHIPS Implementation Steering Council to aid with the rollout of administrative guidance.