US issuing new childcare guidance for semiconductor chips subsidy program

The Biden administration on Monday will release new guidance for its $52 billion US 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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