Here?s how bad the chip shortage is, according to the White House

“The semiconductor supply chain remains fragile, and it is essential that Congress pass chips funding as soon as possible,” reads a statement from Raimondo, under a press release with the heading “Commerce Semiconductor Data Confirms Urgent Need for Congress to Pass U.S. Innovation and Competition Act.”While I’m certainly not going to argue that the US shouldn’t fund domestic semiconductor manufacturing — there are many good reasons we might want to do just that — I will say it’s been weird to see the Biden administration suggest that that $52 billion is a ticket to ending the chip shortage, lowering car prices, and combatting inflation.As we discussed last week when Intel announced it would spend $20 billion on two new fabs in Ohio, Raimondo and others appear to be trying to conflate these ideas to kick Congress into gear — but Intel doesn’t historically make chips for cars, and today’s chip shortage will likely be over long before any of those fabs can start producing chips.