Rep. McCaul (R-TX10) Introduces CHIPS for America Act, H.R.7178
Rep. Michael McCaul (R-TX10) introduced the CHIPS for America Act (H.R.7178), which aims to restore U.S. leadership in semiconductor manufacturing while limiting economic partnerships with Iran by creating Federal incentives for research and development. The bill states that any recipients of grant money from the Act will have their money revoked if they partner with Iran for any research or technology licensing. This stipulation also applies to China, Russia, and North Korea. The Act was referred to the Committee on Science, Space, and Technology, and the Committees on Ways and Means, Armed Services, Financial Services, Energy and Commerce, and Foreign Affairs on June 11.