Unlikely Allies: Bernie Sanders Backs Trump's Chipmaker Equity Plan
Senator Bernie Sanders supports President Trump’s plan to convert grants to chipmakers into government stakes. This unusual alignment on government ownership underscores a shift towards state intervention. Sanders, known for his leftist views, aligns with Trump's economic strategy, highlighting bipartisan agreement on securing taxpayer returns.
In an unexpected twist of political alliances, liberal U.S. Senator Bernie Sanders has endorsed President Donald Trump's initiative to transform grants to chipmakers like Intel into government equity stakes. This aligns Sanders with Trump on the issue of taxpayer returns on government investments in the chip industry.
The strategy marks a significant policy shift for Trump, who has traditionally championed free-market economics. The move toward state intervention, reminiscent of leftist policies, seeks to ensure taxpayer returns on federal subsidies allocated through the 2022 Chips and Science Act aimed at boosting U.S. semiconductor production.
With Commerce Secretary Howard Lutnick exploring government equity stakes in exchange for chipmaker grants, Sanders appreciates the alignment with his earlier amendment proposal. However, much of the funding for companies like Micron and Samsung remains undistributed, indicating ongoing negotiation and policy refinement.
(With inputs from agencies.)
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