The Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act was signed into law on Tuesday, August 9, 2022. President Joe Biden signed HR7178 into law after lawmakers on Capitol Hill passed the landmark bill late of last month.

Semiconductors or microchips are tiny computer chips about the size of a fingertip. They are the pillars of the modern economy. Microchips power smartphones, vehicles, and electronic devices.

The CHIPS and Science Act encourages projects to produce semiconductors in the US Biden claimed that the US invented the semiconductor and the law is bringing it back home. The landmark bill will fund semiconductor manufacturing and research in the United States. The law covers more than $52 billion in subsidies. His goal is to strengthen initiatives to make the US more competitive with tech giant China.

The legislation establishes “immersive technology”, a fundamental area of ​​national technological development. The Senate also voted to approve the bill. The bill makes it possible to give a portion of the $250 billion in research and development (R&D) funding to extended reality.

CHIPS and the Science Act for the Emerging Technology Ecosystem

In a recent cheep For the POTUS, Biden said that “the future of the microchip industry will be ‘Made in America.'” Making more chips in the US will strengthen production in the country. It will also increase the supply of semiconductor chips. Plus, it will lower the cost of everyday items for American families.

The CHIPS and Science Act aims to improve future industries. The law helps create good-paying manufacturing jobs across the country. It also incorporates safeguards to ensure that every dollar invested in the US stays in the US.

Tech organizations like the XR Association (XRA) praised the signing of the bill. The Washington DC-based association sees it as a vital element of the emerging tech ecosystem.

XRA pushed for the CHIPS Act to include immersive technology

The XR Association has long been an advocate for innovative technologies. XRA pushed for virtual reality, augmented reality, and mixed reality to be part of the US budget. The organization, which represents major headset manufacturers, advocates for other vital technology tools and technologies. These include blockchain, digital twins, the Internet of Things, and artificial intelligence.

XRA worked closely with members of the Congressional Reality Caucus and other legislators. He fought to make immersive technology part of the CHIPS Act. Joan O’Hara, vice president of public policy, said in a statement that XRA has joined XR technology. She ensured that the bill recognized XR technology as a notable future technology, and also ensured that the Act funds XR for optimal R&D opportunities.

Liz Hyman, CEO of XRA, echoed O’Hara’s comments. She stated that XR and immersive technology have great potential in healthcare, education, and workforce training. “Our member organizations build and trust chips to create new wearables, connect devices, and enable the 5G transformation. As the chip shortage continues, this law will support developers’ ongoing projects and move the industry forward.” Hyman added.

The XRA represents the extensive XR ecosystem. This includes headphone manufacturers, software developers, and suppliers of parts and accessories. The association also represents network infrastructure providers, business solution providers and corporate end users. Google, HTC Vive, Microsoft, Meta, and Sony Interactive Entertainment jointly created XRA.

The XRA supports the rapidly growing XR industry. The association also encourages the responsible development and adoption of XR. XRA convenes stakeholders, develops best practices, conducts complex research, and lobbies on behalf of the industry.