I don't see how direct ownership by the US government would be something to be celebrated
The chips act, as enacted by Biden, was going to give them the money as a grant. Trump got elected and was like "whoa whoa whoa, hold up", and changed it from a grant to an equity buy.
Compared to just giving them money with no strings, giving them money for an equity stake in the company is unequivocally less bad.
Bear in mind: Trump probably doesn't have enough support among congressional republicans to kill the chips act outright. If he'd gone to congress and tried to claw the money back entirely, it would have been a messy own-goal. He's gotten a little better this time around at not rolling the dice on congress to have his back.
That's fair. Sounds like orange man navigated this one relatively well, but in the overall scheme of things I still don't feel warm and fuzzy about it.
The chips act, as enacted by Biden, was going to give them the money as a grant. Trump got elected and was like "whoa whoa whoa, hold up", and changed it from a grant to an equity buy.
Compared to just giving them money with no strings, giving them money for an equity stake in the company is unequivocally less bad.
Bear in mind: Trump probably doesn't have enough support among congressional republicans to kill the chips act outright. If he'd gone to congress and tried to claw the money back entirely, it would have been a messy own-goal. He's gotten a little better this time around at not rolling the dice on congress to have his back.
That's fair. Sounds like orange man navigated this one relatively well, but in the overall scheme of things I still don't feel warm and fuzzy about it.