View or download a PDF of the report here.

AFREF, in partnership with the Institute for Policy Studies, has released a report on the 2022 CHIPS and Science Act’s $39 billion in subsidies for semiconductor manufacturing, and specifically on the Biden administration’s decision to grant preferential treatment in the awarding of these subsidies to firms that agree to forgo all stock buybacks for five years.

The report, Maximizing the Benefits of the CHIPS program, is authored by Sarah Anderson and Natalia Renta. Research support provided by Oshin Pandey. Cover design by Sarah Gertler.