The Trump administration clawed back more than $7.4 billion in taxpayer dollars from a nonprofit group created under the Biden-era CHIPS and Science Act for semiconductor research and development, Commerce Secretary Howard Lutnick announced on Monday.

The 2022 CHIPS Act allocated $11 billion in semiconductor research and development funding to the National Semiconductor Technology Center. Natcast operated the initiative under a long-term partnership with the Department of Commerce , which has been severed.

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