The United States is building far fewer semiconductors today than it once did, leaving the country increasingly dependent on foreign producers.

The U.S.’s share of worldwide semiconductor manufacturing decreased from 37% in 1990 to less than 10% in 2022. To ameliorate this shift, Congress had taxpayers front $280 billion via the 2022 Creating Helpful Incentives to Produce Semiconductors Act, ostensibly to spur domestic production.