CollisionWeek

Your source for the latest collision repair industry news, statistics and trend analysis.

  • News
  • Research
  • Feature
  • Subscribe
You are here: Home / News / CHIPS Act Signed Into Law

CHIPS Act Signed Into Law

August 4, 2022 By CollisionWeek Editor

On August 2, President Biden signed the CHIPS and Science Act (CHIPS Act) into law, allocating $280 billion in funding and tax incentives to boost domestic production and innovation in the semiconductor industry and broader science and technology-related industries. The bill, which passed the Senate by a vote of 64-33, aims to make the United States more competitive with China in science, technology, engineering and math (STEM) while addressing national security related to these emerging technologies.

Auto manufacturers applauded the new law. They hope the incentives to manufacture semiconductors in the U.S. will eventually alleviate the shortage of impacting auto

Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options. 

Filed Under: News Tagged With: legislation, OEM Parts, Semiconductors, Supply Chain

Interview Sponsors

IBIS Publisher Partner

Login

Remember Me
Subscribe | Lost your Password?

Tags

AAA AASP/NJ Acquisitions Advanced Driver Assistance Systems Agreements Signed Annual Conference Auto Care Association Automotive Service Association Autonomous Vehicles Awards Axalta Coating Systems Board of Directors Boyd Group California Canada Career and Technical Education CARSTAR CCC Classic Collision Collision Industry Electronic Commerce Association Collision Repair Education Foundation Coronavirus Crash Champions Donations Earnings Electric Vehicles Florida I-CAR Lawsuits legislation LKQ Corporation National Auto Body Council Network Affiliations New Jersey New Vehicle Sales Non-OEM Parts Openings People PPG Industries Regulations Right to Repair Scholarships Texas United Kingdom Workforce Development

Recent Articles

  • Fix Network Names Sonia Bouthillette VP of Sales and Operation for Canadian Operations July 1, 2025
  • Mental Health Crisis, Police Cuts Linked to Rise in Impaired-Driving Deaths During Pandemic July 1, 2025
  • SkillsUSA 2025 National Collision Repair, Automotive Refinish and Damage Appraisal Medalists Announced July 1, 2025
  • United Recyclers Group Announces Changes to Board Leadership July 1, 2025
  • Labor Department Awards $84M to Expand Registered Apprenticeship Programs July 1, 2025
  • AASP/NJ Plans 18th Annual Lou Scoras Memorial Golf Tournament September 16 June 30, 2025
  • Insurance Group Urges Federal Task Force on Staged Car Crashes June 30, 2025

CollisionWeek Membership

  • Login
  • Lost Password
  • Membership Details
  • Register
  • Sponsors
  • Subscription Information
  • Terms of Use for CollisionWeek

More Information

About CollisionWeek
Contact Us
Privacy Policy
Event Calendar
Take the Collision Repair Business Conditions Survey

Copyright 1999-2025 - QuanDec Corporation - All Rights Reserved · Log in