Biden administration bars CHIPS Act funding recipients from expanding in China
“I also want to be clear that no CHIPS dollars can be spent on stock buybacks,” Raimondo said. “This is about investing in our national security, not enabling these companies to use our money to increase their profits.” The Commerce Department will also require companies applying for more than $150 million to outline how they plan to provide affordable childcare to workers, a funding condition Raimondo said reflects the current labor market.
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