A look at recently passed legislation

Two important pieces of legislation were recently passed into law. The CHIPs Act allocates billions in federal dollars and tax incentives to domestically manufacture critical semiconductors, thus narrowing a major strategic vulnerability. The Inflation Reduction Act (IRA) is much larger and focuses on climate remediation, healthcare costs, and levies some new corporate taxes.

Though each address very important long-term issues, we do not see either as having a material influence on near-term investment opportunities.

In this report, we provide a high-level overview of each piece of legislation.

Read the full report.