The Big Insight: The U.S. is rapidly losing market share in the global semiconductor sector, and the United States Innovation and Competition Act may help reverse the trend.
Semiconductors are essential to U.S. economic and national security and are one of our top five exports. But now America is at serious risk of falling behind Asia, particularly China.
The U.S. Innovation and Competition Act, which has already passed the Senate 68-32, could provide essential funding needed to jumpstart the U.S. semiconductor sector, but the House and Senate are still haggling over the final shape of a bill.
Here are five facts that explain why it’s so important for the U.S. to maintain its lead in the global semiconductor industry.
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