President Donald Trump wants to kill the CHIPS Act, which provides $6.6 billion in federal subsidies for TSMC's $65 billion Phoenix semiconductor fabrication complex. He claimed that TSMC has not received money from the program,

CHIPS and Science Act, the federal government pledged $6.6 billion to help TSMC expand its U.S. operations in Phoenix. Tuesday night, President Donald Trump called the law “a horrible, horrible thing” and urged Congress to scrap it.

President Trump has levelled his heaviest criticism yet against the CHIPS act, stating that US lawmakers should get rid of it altogether. According to Reuters, the United States president told congress they should ditch the 2022 act and use whatever is left of its $52 billion in subsidies to pay debts,

President points to TSMC announcing $100 billion expansion of Arizona plans earlier this week as proof that threat of tarrifs motivates more than subsidies

GlobalFoundries, a chip maker based in Saratoga County, is slated to get one of the largest CHIPS Act grants to expand its Malta operation.

In June 2024, President Donald Trump told supporters at a campaign rally, "As president, I will not cut one penny from Social Security or Medicare." "I will not cut one penny from Social Security or Medicare,