In a recent address to Congress, President Trump expressed a strong desire to repeal the CHIPS Act, a $52.7 billion subsidy law aimed at boosting semiconductor manufacturing in the U.S. His remarks have sparked significant backlash from both Democrats and some Republicans, who emphasize the importance of the Act for job creation and investment in states like New York and Ohio. Leaders in those states have vowed to protect the funding amid fears of the potential impact on local chipmakers and tech hubs. While Trump argues that the funding should be redirected to reduce the national debt, many industry stakeholders and lawmakers assert that cutting the CHIPS Act could jeopardize thousands of jobs and hinder critical investments in American technology.