House Speaker Johnson says GOP may try to repeal CHIPS Act, AP reports

U.S. House Speaker Mike Johnson said Friday that the Republicans “probably will” try to repeal the CHIPS Act, but then walked it back, saying the GOP may “further streamline” the bill, Stephen Groves of The Associated Press reports. A reporter had asked Johnson whether he would try to repeal the bipartisan CHIPS and Science Act, which Republican presidential nominee Donald Trump had disparaged last week. “I expect that we probably will, but we haven’t developed that part of the agenda yet,” Johnson replied. Publicly traded companies in the space include Advanced Micro Devices (AMD), Intel (INTC), Qualcomm (QCOM), NVIDIA (NVDA), Marvel (MRVL), Texas Instruments (TXN), Micron (MU), Microchip (MCHP).