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Trump signs order to set up new entity to take over Biden’s Chips Act program
US Investment Accelerator will oversee the semiconductor production boosting law signed into law in August 2022
Donald Trump signed an executive order on Monday setting up a new entity to take over the Chips Act program and speed up corporate investments in the US. Trump has repeatedly criticized the bipartisan Chips Act, signed by then president Joe Biden in August 2022. The Investment Accelerator will also encourage companies to make large investments in the US by reducing regulatory burdens, speeding up permitting, coordinating with federal agencies and states, and increasing access to national resources, according to a fact sheet released by the White House.
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