FILE PHOTO: U.S. President Joe Biden and Commerce Secretary Gina Raimondo (not pictured) hold a virtual meeting with business leaders and state governors to discuss supply chain problems, particularly addressing semiconductor chips, on the White House campus in Washington, U.S., March 9, 2022. REUTERS/Jonathan Ernst/File Photo
WASHINGTON (Reuters) -The Biden administration on Monday will release new guidance for its $52 billion U.S. semiconductor manufacturing and research program detailing how companies seeking major awards must provide affordable high-quality childcare.
The Commerce Department plans to begin accepting applications in late June for a $39 billion manufacturing subsidy program. The law also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion.
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