China News Agency, Washington, September 21 (Reporter Sha Hanting) The U.S. Department of Commerce and the White House announced on the 20th local time the leadership team responsible for about $52.7 billion in chip project funding.
In July this year, both houses of the U.S. Congress passed the "Chip and Science Act", which was officially signed by U.S. President Biden on August 9.
The total amount of the bill is as high as 52.7 billion U.S. dollars. It aims to provide huge subsidies to the domestic chip industry in the United States and requires any company that receives subsidies from the United States to manufacture chips in the United States.
The "Washington Post" stated that the chip project will be one of the largest industrial development projects undertaken by the federal government in the history of the United States.
The White House announced on the same day that it would appoint Aaron Chatterji as the White House head of the project.
Chatterjee was previously a professor at Duke University's School of Business and will serve as chief economist at the U.S. Department of Commerce from April 2021.
The U.S. Department of Commerce announced that it will appoint Mike Schmidt (Michael Schmidt) as head of the Commerce Department's chip program office.
Schmidt will be responsible for screening applications for building chip factories.
Schmidt previously served as a senior advisor to the U.S. Treasury Department.
In addition, the US Department of Commerce will also set up a chip research and development office, which is responsible for screening applications for chip research and development funds.
Eric Lin will head the office.
U.S. Secretary of Commerce Raimondo issued a statement on the same day that the project leadership team will play an important role in "strengthening the construction of the chip industry chain, increasing research and development in related fields, strengthening national security, and creating employment opportunities."
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