Trump Touts Tariffs & Calls for End of CHIPS Act Investments to Pay for Tax Breaks For Wealthy

PHOENIX — During his address to Congress on Tuesday, President Trump boasted about his tariff implementation that will raise prices on Arizonans to cover the cost of tax breaks on the wealthy and corporations and urged congress to repeal the CHIPS Act that brought manufacturing jobs to Arizona.

In combination, the Trump Admin and House Republicans could use tariff implementation and the dismantling of investment incentives like the CHIPS Act to offset the cost of trillions of dollars in tax breaks for wealthy individuals as well as major corporations, all at the expense of Arizonans’ wallets and jobs. Congressmen Juan Ciscomani, an ally of President Trump, has previously praised the CHIPS Act for its investment in Arizona.

According to Cronkite News: 

“[...the Biden administration promised $6.6 billion in grants to TSMC to build the Phoenix fabs, plus up to $5 billion in loans. The funds come from one of Biden’s signature legislative achievements, the CHIPS and Science Act, which set aside $52.7 billion for chip research, manufacturing and workforce development in the United States.

TSMC, one of the world’s largest companies, makes chips for leading technology and artificial intelligence developers, including Apple, NVIDIA and AMDL.”

"Congressman Ciscomani said he'd work for Arizonans but gutting the CHIPS Act and raising the cost of living for working families is the complete opposite of what Arizonans expect," said Andrea Moreno, Executive Director of Honest Arizona. "Congressman Ciscomani needs to stand up to President Trump and Congressional Republicans and oppose their efforts to eliminate jobs and slash support for working families designed to favor the ultra-wealthy and corporations.

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