US issuing new childcare guidance for semiconductor chips subsidy program

The Biden administration on Monday will release new guidance for its $52-billion U.S. semiconductor manufacturing and research program detailing how companies seeking major awards must provide affordable high-quality childcare.

The Commerce Department plans to begin accepting applications in late June for a $39-billion manufacturing subsidy program. The law also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion. The workforce guidance document seen by Reuters says the Commerce Department is “not requiring or expecting applicants to provide free care” but adds applicants seeking funding “should strongly consider defraying the price of care such that it is within reach for low- and medium-income households.” Reuters