When President Joe Biden signed the CHIPS and Science Act into law in August it was one of the few pieces of legislation embraced across the aisle in a hyper-partisan climate. CHIPS aimed, in part, to address the dire shortage of semiconductors – computer chips essential to running everything from household appliances to lifesaving medical devices – that US industry faced.
Support for the legislation only increased during the pandemic when supply chain shortages highlighted the risk of relying on overseas...