Photo: Nexo
The $280 billion bill, which aids the semiconductor industry, also incorporates Representative Darren Soto’s bill to create a position to advise the president on blockchain and cryptocurrencies.
The US House of Representatives passed the Chip and Science Act on Thursday by a vote of 243 to 187. The bill, which was introduced in the Senate more than a year ago, provides grants and incentives for the semiconductor industry and encourages research in this direction. He is also creating a Blockchain and Cryptocurrency Specialist position at the White House Office of Science and Technology Policy (OSTP), according to Cointelegraph.
The bill's total cost is $280 billion, including $52 billion in grants and incentives for US semiconductor manufacturers and $170 billion in research incentives. This is also expected to help mitigate supply chain issues in the industry.
In addition, there is a section in the “Miscellaneous Science and Technology Provisions” chapter of the bill that provides for the creation of a Blockchain and Cryptocurrency Specialist position at the OSTP to “advise the President on matters relating to blockchain and cryptocurrencies.” Soto said in a statement:
“As a co-chair of the Congressional Blockchain Caucus and a member of the House Energy and Commerce Committee, I am proud to foster the policy needed to ensure innovation continues to take shape in our government and the CHIPS and Science Act will do just that.”
© 2022, Eva Fox | Tesmanian. All rights reserved.
_____________________________
We appreciate your readership! Please share your thoughts in the comment section below.
Article edited by @SmokeyShorts, you can follow him on Twitter
About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
