The U.S. government has seized a $7.4 billion semiconductor research fund established during the Biden administration, labeling it as illegal. The fund was intended to support semiconductor research and development but has faced criticism from some officials.
According to Lutnick, a prominent figure in the discussion, the fund operated as a “slush fund” that primarily benefited individuals loyal to President Biden, rather than advancing its intended goals. He claims that taxpayer dollars were misused, raising concerns about the fund’s management and oversight.
The decision to seize the funds reflects ongoing tensions regarding the allocation of federal resources in the semiconductor industry, which has become a focal point for economic and technological competition. The Commerce Department’s actions suggest a shift in priorities under the current administration.
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Last Modified: August 26, 2025 at 5:51 pm
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