In August 2022, Joe Biden signed the CHIPS and Science Act.
This was something that both sides of the aisle supported in hopes of making the United States less dependent on adversaries such as China for high-tech supplies.
A report just surfaced that the act may have been nothing more than a way for Biden to line the pockets of his allies.
The premise for the legislation was a good one… to help back domestic production of high-tech supplies and research.
The measure earmarked $280 billion toward that goal, and it featured a major focus on the semiconductor industry.
There was also $10 billion earmarked for “regional technology hubs” for technology development, job creation, and expanding U.S. innovation capacity, according to the American Council on Education.
Now, however, reports are surfacing that more than $7 billion was sent out to companies formed by Biden allies and earmarked right before Biden left office.
The allegations above, which we will get into in just a minute, are far from the first time we have seen claims such as these made against the Biden administration.
For instance, there were reports in March that Biden had given away more than $20 billion to allies in the quest to develop more green energy.
Current EPA Administrator Lee Zeldin broke the news, showing a disturbing trend of organizations that appeared to be created just to capitalize on this funding.
He explained, “Of the eight pass-through entities that received funding from the pot of $20 billion in tax dollars, various recipients have shown very little qualification to handle a single dollar, let alone several billions of dollars.”
Commerce Secretary Howard Lutnick stirred the pot this week when he canceled a Biden-era agreement to disburse roughly $7.4 billion in funding from the CHIPS legislation.
The cancellation was based on how many of the groups targeted to receive the funding were made up of former Biden administration officials or allies who only recently created companies or organizations, or recently joined firms slated to receive this money. More specifically, Lutnick made note of an outside entity that was going to take control of this disbursement.
Lutnick stated, “Rather than establishing these operations within the Department, however, Biden Administration officials spent significant time, effort, and resources creating an unaccountable, outside entity -- Natcast -- to administer taxpayer funds.” In essence, Biden had set the stage to take this funding completely out of the hands of the Trump administration. Lutnick explained, “The GCCA [Government Corporation Control Act] plainly prohibits agencies from establishing a corporation to act as an agency without specific authorization, and the January 16, 2025, agreement does nothing other than set forth the terms of the Biden Administration’s attempt to do just that.”
It’s just one big scam to get their allies' pockets lined with cash, some of which is just returned to Democrats in the form of a campaign donation (that is my opinion). Honestly, as corrupt as this government is, I don’t know where we should start in terms of cleaning it up. Or perhaps it has become so corrupted that doing so really is an impossible task.
