According to the latest report, the chief executives of Intel and Micron will make the case for the U.S. government’s need for subsidies to boost semiconductor manufacturing to the U.S. Senate Commerce Committee on Wednesday.
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According to previously unreported testimony seen by Reuters, Intel CEO Pat Kissinger will tell the committee that “the federal government urgently needs to incentivize more private sector investment in the U.S. to enable a resilient and innovative semiconductor ecosystem. system.”
Micron CEO Sanjay Mehrotra said in written testimony that approving $52 billion for the chip industry “will initiate investments in workforce development, research and development, innovation and manufacturing expansion in the near term.”
Moreover, the ongoing shortage of chips across the industry has disrupted production in the automotive and electronics industries, forcing some companies to scale back production, the report said.
