Chips Plus passed the first Senate hurdle last week. A second Senate vote is needed. The House must also pass it. The House goes to August recess on July 27. The bill as written includes $52Billion of unfunded chips factory funding (ie to Intel, Samsung, Taiwan Semiconductor), tax credits and authorization of "science agencies" among other not defined areas. Sen Schumer (D-NY) has stated that Chips will benefit upstate New York. The question is increasing debt versus re-shoring chips production.
US Senate Passes CHIPS Act Temperature Check, but Challenges Linger (hpcwire.com)