Some 40 per cent of the biggest US manufacturing investments announced in the first year of US President Joe Biden’s signature overhaul of industrial and climate policy have been delayed or paused, according to a Financial Times investigation.
Biden’s Inflation Reduction Act and Chips and Science Act offered more than $400bn in tax credits, loans and grants to spark development of a domestic US cleantech and semiconductor supply chain.
However of the projects worth more than $100mn, a total of $84bn have been delayed for between two months and several years, or paused indefinitely, the FT found.
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