U.S. gov’t seizes $7.4 billion semiconductor research fund created under Biden admin, calling it ‘illegal’ | Lutnick says fund ‘served as a semiconductor slush fund that did nothing but line the pockets of Biden loyalists with American tax dollars’
Despite allusions to nepotism and corruption, the Commerce Department hasn’t made clear what it wants to do with the newly clawed-back funds. The U.S. Commerce Department has seized control of a $7.4 billion semiconductor research fund from the National Center for the Advancement of Semiconductor Technology (NATCAST), a private non-profit set up during the Biden …