Summary
U.S. Senator Bernie Sanders supports a plan by President Donald Trump to convert government grants for chipmakers like Intel into ownership stakes. This comes as part of the CHIPS and Science Act aimed at boosting domestic semiconductor production. Both Sanders and Trump agree that taxpayers should receive returns on investments in profitable companies.
Key Facts
- President Trump plans to change U.S. grants to chipmakers, such as Intel, into government stakes in these companies.
- Senator Bernie Sanders supports this plan, stating taxpayers deserve returns if the companies profit.
- The grants are part of the 2022 CHIPS and Science Act, which encourages chip production in the U.S.
- Commerce Secretary Howard Lutnick is considering how the government can take equity stakes in Intel and others.
- Sanders had previously suggested an amendment to the CHIPS Act for government equity in companies receiving grants.
- The plan aligns Sanders and Trump, showing a shift towards state intervention in the economy.
- Earlier, President Trump allowed AI chip sales to China, with the U.S. getting a percentage of the revenue.
- Intel CEO Lip-Bu Tan faced national security concerns due to past investments in Chinese tech companies.
