Chip bill

There is a $52 billion dollar bill stalled in congress known as the Creating Helpful Incentives to Produce Semiconductors. The high tech companies like Apple are all for this since it amounts to a government subsidy to these companies. Apple is sitting on $200 billion in cash. Do they need subsidies. It is stalled because like most bills it has a lot of other stuff attached to it. They may negotiate these attachments away to pass the bill but why is the government giving all of this money to Silicon Valley. Silicon Valley is spending millions more for Joe Biden than it did for Hillary Clinton To some extent, Silicon Valley is doing nothing unusual. 2020 is by far the most expensive election cycle, adjusted for inflation — costing more than twice as much as the runner-up, the 2016 race. But the new money reflects how Silicon Valley is increasingly turning its financial power into political power that could persist after Election Day. Recall how much money the solar panel industry gave to Obama and got billions in return most of which was lost when these companies went bankrupt. Did the owners of these companies collect before the bankruptcy. This is business as usual for Washington.