‘Wasteful Subsidies’: Ramaswamy Slams Biden Admin For Rushing $50 Billion Chip Subsidies Ahead Of Trump Takeover
Vivek Ramaswamy took to social media Tuesday to criticize the Biden administration for its rapid allocation of $50 billion in chipmaking subsidies. In a post on X, previously known as Twitter, Ramaswamy shared a…
Vivek Ramaswamy took to social media Tuesday to criticize the Biden administration for its rapid allocation of $50 billion in chipmaking subsidies.
In a post on X, previously known as Twitter, Ramaswamy shared a Politico interview where Commerce Secretary Gina Raimondo detailed her plans to speed up the CHIPS and Science Act. Ramaswamy also said that members of the Biden administration aim to finalize the funds before President-elect Donald Trump assumes office in January.
During the interview with Politico, Raimondo said she intends to obligate nearly all the designated funds before Jan. 20.
“I’d like to have really almost all of the money obligated by the time we leave,” Raimondo told Politico.
Post-election, the Biden team secured more than $16 billion in final awards for five companies, including TSMC, GlobalFoundries, Rocket Lab, BAE Systems, and Intel. Prior to these awards, only a single contract of $123 million had been granted to Polar Semiconductor in Minnesota, Politico reported.
Ramaswamy revealed