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President Biden is preparing to announce chipmaker subsidies.

So says The Wall Street Journal in a report this morning that his administration will give “billions of dollars” to the likes of Intel and Taiwan Semiconductor Manufacturing Company (TSMC), both of which have started US manufacturing projects, although TSMC, at least, is behind schedule.

It’s been well over a year since Biden signed the $280 billion CHIPS and Science Act, which set aside $52 billion to bring more chipmaking jobs stateside.