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- Should struggling Intel receive billions in taxpayer dollars? (foxbusiness.com)
Intel CEO Ousted Amid Concerns Over Government Funding
Following a massive grant awarded by the Biden administration under the CHIPS and Science Act, Intel’s CEO has resigned. Experts are raising concerns about the government’s significant investment in the struggling semiconductor company.
Scott Lincicome of the Cato Institute warns of red flags, citing Intel’s recent defense contract and management issues. He fears the government may treat Intel as “Too Big to Fail” and continue to support it despite poor performance.
Finance attorney John Alper emphasizes the need for accountability and transparency in the use of taxpayer funds. He believes the investment could be worthwhile if it strengthens the domestic semiconductor industry.
Cody Moore of Wealth E&P questions the wisdom of awarding the grant to Intel, given its competitive challenges. However, he hopes the investment will boost productivity and reduce reliance on foreign manufacturing.
Tax historian Thomas Cryan suggests balancing concerns over supply chain security, free market principles, and the threat from Chinese government-funded companies. He argues that the grant may be justified in the context of a long-term strategic plan.
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- Should struggling Intel receive billions in taxpayer dollars? (foxbusiness.com)