While the $52 billion of federal funding in the CHIPS for America Act has strong bipartisan support, it’s caught in a larger fight between the two legislative chambers over an attempt to reconcile the bill with other Democrat spending priorities. Senate Majority Leader Mitch McConnell (R-KY) has built a coalition against the larger bill that will stop it from passing unless the process is focused exclusively on semiconductors. Commerce Secretary Gina Raimondo has also agreed that the CHIPS Act should be passed on its own immediately.

To make sense of this situation and predict what comes next, Shane and AEI’s Claude Barfield sit down with Peter Cleveland of Taiwan Semiconductor Manufacturing Corporation and Jon Hoganson of Advanced Micro Devices Inc. The four of them discuss the ins and outs of Congress’ battle over chip funding, along with key opportunities that could be missed if action isn’t taken soon.