President Joe Biden has signed the CHIPS and Science Act of 2022, a law to provide an estimated $52.7 billion for U.S. semiconductor manufacturing and funding for science and technology innovations.
Waste and recycling industry groups such as the National Waste & Recycling Association and Solid Waste Association of North America previously said they hope CHIPS can help manufacturers gain more reliable access to microchips needed for new equipment and reduce wait times on deliveries of new trucks. Long wait times for vehicle orders has been an operational issue for many months, waste service providers say.
Biden called it a “once in a generation investment” to fund domestic manufacturing efforts, boost research and development, and establish educational programs. The law will also create about 40,000 jobs, which he said would help reposition the country as a major producer of microchips and leader in technology research. “We’re leading the world for the next decades,” he said.
At a bill signing ceremony on Tuesday, House Speaker Nancy Pelosi, Senate Majority Leader Chuck Schumer and Commerce Secretary Gina Raimondo underscored the law’s role in creating more secure supply chains, investing in jobs and reducing reliance on other countries’ manufacturing. Biden did not specifically mention the waste and recycling industry in his speech, but acknowledged that the global microchip shortage has affected all types of technologies.
