Biden Signs Law To Exempt Certain US Chipmaking Facilities From Federal Environmental Reviews Under CHIPS Act

Benzinga Neuro

October 03, 2024

In a significant move for the semiconductor industry, President Joe Biden has enacted legislation that exempts certain U.S. chip manufacturing facilities from federal environmental reviews.

What Happened: This new law, affects projects benefiting from government subsidies under the $52.7 billion CHIPS Act of 2022. The legislation aims to prevent potential delays that could arise from additional federal environmental reviews mandated by the National Environmental Policy Act of 1969, Reuters reported.

Proponents argue that these projects have already complied with existing federal, state, and local environmental regulations.

The U.S. Commerce Department has allocated over $35 billion for 26 projects, including substantial grants to companies like Samsung Electronics Co Ltd. (OTC:SSNLF), Intel Corp. (NASDAQ:INTC), and Micron Technology Inc. (NASDAQ:MU), to boost domestic chip production.

While the White House maintains its commitment to environmental standards, groups such as the Sierra Club emphasize the importance of reviews for community and worker safety.

The bipartisan legislation, co-authored by Senators Sen. Mark Kelly (D-Ariz.) and Sen. Ted Cruz (R-Texas), seeks to enhance U.S. semiconductor manufacturing by avoiding unnecessary delays.

See Also: Tech YouTuber MKBHD Responds After Facing Massive Backlash Over His New $12 A Month Wallpaper App

Why It Matters: The semiconductor industry is at the forefront of technological advancements, and the demand for chips has surged due to the rise of artificial intelligence and other tech innovations.

Recent market trends show that semiconductor stocks, including those of Nvidia Corp. (NASDAQ:NVDA) and Micron Technology, have experienced fluctuations amid broader economic factors.

Moreover, the tech industry’s push towards AI has raised concerns about environmental sustainability. Companies like Microsoft Corp. (NASDAQ:MSFT) have faced challenges in balancing AI advancements with carbon-neutral goals.

Read Next:

Elon Musk’s X Suspends 5.3M Accounts, Flags 10.6M Posts In First Transparency Report Amid User And Advertiser Decline

Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Recommended

How to Hack a $1.3T Market - Ad

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Tariff-Driven Cash Payouts, Right Off Your Smart Phone? - Ad

Sam Altman has emerged as President Trump's key tech ally in the wake of the fallout between Trump and Elon Musk.

Colonel Sanders Sold KFC For $2 Million Only To See The New Owners Cash Out For $285 Million Few Years Later — Why He Then Sued Them

Harland Sanders built Kentucky Fried Chicken into a success but sold it for just $2M, feeling sidelined as it grew into a global brand. He died in 1980.

Major Rollout of Social Security X?

Major Rollout of Social Security X? - Ad

Before leaving D.C., Elon Musk may have greenlit "Social Security X"-a digital overhaul backed by Trump. Set to launch as soon as July 23, this shift could impact 72M Americans-and send 3 tiny tech stocks soaring.

Trump's 'Big, Beautiful Bill' Offers Seniors A $6,000 'Bonus' Tax Deduction: Here's How You Qualify For The Benefit

Trump's Big, Beautiful Bill offers a $6,000 senior bonus deduction from 2025-28. Couples can save $12,000. Retirees with incomes up to $75,000 benefit most.

Cathie Wood Doubles Down On Tesla Despite Leadership Exodus, Dumps $22 Million Of Crypto Stocks Amid Bitcoin Buzz

Cathie Wood-led Ark Invest made significant trades on Tuesday, involving major companies like Tesla Inc. (NASDAQ:TSLA), Coinbase Global Inc.

FDA Submission Expected This Summer - Invest Before It Happens

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

Funders commit $1B toward developing AI tools for frontline workers

A coalition of funders, including the and Ballmer Group, will spend $1 billion over 15 years to help develop tools for public defenders, parole officers, social workers and others who help Americans in precarious situations.

What to know about buying electric vehicles after the federal tax incentives end

The massive tax and spending cut bill that ends federal tax incentives for electric vehicles.

President Trump's "Pure Genius" Crypto Plan

President Trump's "Pure Genius" Crypto Plan - Ad

First came "Make America Great Again" (MAGA)... Then came "Make America Healthy Again" (MAHA)... Now comes President Trump's boldest initiative yet. Jeff Brown calls it "Project MAFA." It's a revolutionary crypto plan that could flood a tiny corner of the market with up to $3.7 trillion. Already, it's helping small plays jump as high as 300%, 318%, 520%, and even 600%. For a few days only, Jeff's sharing everything - including how to get a huge discount on his research.

Li Auto's Strong Q2 Deliveries Mask June's Steep Decline

Li Auto (LI) reported 36,279 vehicles delivered in June 2025, down 24.1% YoY. Q2 saw a 2.4% YoY increase with 111,074 vehicles delivered. Li's cumulative deliveries since inception reached 1,337,810.

Rigetti Computing, Netflix, Johnson & Johnson, United Airlines And ASML: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks moved higher today, with the Dow Jones gaining more than 200 points, or 0.5%, to close at 44,254.78.

Is Elon's Empire Crumbling?

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Cathie Wood Doubles Down On Tesla Amid Elon Musk's Feud With Trump, Sells $3 Million Worth Of Coinbase Stock

On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Tesla Inc. and Coinbase Global Inc. . These trades reflect Ark’s strategic positioning amid ongoing market developments.

Trump keeps saying the GOP mega bill will eliminate taxes on Social Security. It does not

WASHINGTON (AP) — President keeps saying that Republicans' mega legislation will eliminate taxes on federal benefits.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Ohio awards $310 million to US defense contractor for 4,000-worker advanced manufacturing facility

COLUMBUS, Ohio (AP) — Defense contractor Anduril Industries has been awarded a $310 million grant from Ohio's job creation office, as the company prepares to build a massive advanced manufacturing facility near Columbus.

Trump Calls America Party A 'Train Wreck,' Blasts Elon Musk For Going Completely 'Off The Rails': President Says System Not Designed For A Third Player

Trump criticizes Musk for forming America Party, calling it a Train Wreck. Musk's dissatisfaction with two-party system leads to poll where 80% support new party.

Back This Medical AI Tech

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

Do as I say, not as I do: On my failings as an investor

If a knowledgeable observer trained his or her sights on my choices, what are the trouble spots they would identify? Here are some of the biggies.

Citi Sees 30% Upside In Circle Stock, Backs USDC Issuer As Key Player In Stablecoin Market

Circle Internet Group Inc. (NYSE:CRCL), the issuer behind USDC (CRYPTO: USDC), has been a standout in the stock market this year, and the latest endorsement from Citigroup Inc. (NYSE:

Forget Nvidia: Try This Secret Instead

Forget Nvidia: Try This Secret Instead - Ad

Wall Street icon Larry Benedict has discovered a unique way to crush Nvidia. All you have to do is change one letter in Nvidia's ticker symbol, and you could get two- or three-times bigger gains. Same thing with Tesla... Apple... and more. Sounds impossible, but it's true.

LOCALIZE IT: 1.4 million could lose housing under Trump's proposed time limit on HUD subsidies

EDITORS/NEWS DIRECTORS:

Union Pacific, Norfolk Southern discuss merger to create transcontinental railroad, AP source says

OMAHA, Neb. (AP) — Union Pacific and Norfolk Southern are in merger talks to create the largest railroad in North America that would connect the East and West Coasts.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Who's calling? A reporter, and it's often President Donald Trump answering

For reporters, it's hardly unusual to call sources on the phone to learn details or get quotes that will enliven their stories. Sometimes people will talk, sometimes they won't.

US Dollar Can Lose Its 'Supremacy Premium' If Fed Interferes With Bond Market: Currencies Are 'Release Valve For Unsustainable Fiscal Policy'

The U.S. dollar's status as the premier currency could be at risk if the Federal Reserve intervenes in the bond markets.

Elon's Greatest Invention... Hidden in South Memphis?

Elon's Greatest Invention... Hidden in South Memphis? - Ad

In South Memphis, I uncovered what could be Elon Musk's biggest invention yet. It's so secretive, rivals are flying drones to spy on it. If you're serious about investing in AI, now's the time to see what's really going on inside those walls.

Whitmer says 'massive economic uncertainty' is to blame on semiconductor project failure in Michigan

LANSING, Mich. (AP) — Plans to build a semiconductor manufacturing plant in Michigan have fallen through and Democratic Gov. Gretchen Whitmer said Wednesday that “massive economic uncertainty” is to blame.

Trump's bid to claw back $9B in foreign aid and public broadcasting funds nears Senate vote

WASHINGTON (AP) — President Donald Trump's request to cancel about $9 billion in foreign aid and public broadcasting spending is nearing passage in the Senate, an action that would have a tiny impact on the nation's rising debt but could have major ramifications for future spending fights in Congress.

Tariff-Driven Cash Payouts, Right Off Your Smart Phone?

Tariff-Driven Cash Payouts, Right Off Your Smart Phone? - Ad

The U.S. Treasury has raked in $15B from Trump's tariffs - and now, thanks to Title 15, you could pocket $100-$1,000 upfront payouts yourself. No stocks needed. Just use your phone and my #1 income strategy to start collecting now.

Taiwan's Chip Industry Comes Under Attack By China-Linked Hackers As Trump Administration Tightens Export Controls: Report

Chinese-linked hackers have ramped up cyberattacks on Taiwan's semiconductor industry and financial analysts amid tightening U.S. chip export controls, as part of a broader effort to access critical technology, cybersecurity researchers say.

Trump-Backed Crypto Bills Stalled Again In House Of Representatives, Marjorie Taylor Greene Holds Out On CBDC Ban: 'Will Not Vote For This'

House Republican leaders faced another setback Wednesday in their efforts to move key cryptocurrency bills, due to disagreements among GOP lawmakers.

Major Rollout of Social Security X?

Major Rollout of Social Security X? - Ad

Bitcoin, Ethereum, Dogecoin Climb Amid Trump-Powell Turbulence: Analyst Says BTC Could Reach $3 Trillion Market Cap By Year-End If This Happens

Leading cryptocurrencies rose alongside stocks on Wednesday as President Donald Trump denied that he plans to remove Federal Reserve Chair Jerome Powell.

US Credit Card Debt Hits $1.18 Trillion As Americans Downplay What They Owe

American credit card debt has surged to an astronomical $1.18 trillion, with a significant number of individuals reportedly concealing their financial predicaments.

FDA Submission Expected This Summer - Invest Before It Happens

FDA Submission Expected This Summer - Invest Before It Happens - Ad

Juul can continue selling its tobacco and menthol e-cigarettes, FDA says

WASHINGTON (AP) — The Food and Drug Administration is allowing vaping brand Juul to keep its e-cigarettes on the market, providing relief to a company that has struggled for years after being widely blamed for sparking the teen vaping trend.

Bitcoin, Ethereum, XRP Lead Crypto Market Cap Rebound Above $4 Trillion

The total cryptocurrency market capitalization has exceeded $4 trillion, led by strong price movements in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO:

President Trump's "Pure Genius" Crypto Plan

President Trump's "Pure Genius" Crypto Plan - Ad

OpenAI's Sam Altman Hints At Compensation Evaluation Amid Meta's 'Distasteful' AI Talent Poaching Spree: Report

OpenAI CEO Sam Altman in a message to OpenAI researchers, reportedly emphasized the importance of staying with OpenAI and hinted at possible compensation evaluations.

Trending Now