Such a monumental scam and a gross theft from taxpayers. Companies making billions of dollars in profits don't need free money. I could be onboard with a subsidized loan, but handouts are not needed. FWIW, I work at a company that stands to benefit from this bill. Does the US need to secure reliable semiconductor supply chains free of China? Sure. This is not the most cost effective way to do it.
It's as simple as this: If companies could manufacture chips profitably in America, they would be. American Laws & Regulations prohibit domestic semiconductor manufacturing without Government subsidies.
I think people here have argued the strengths/weaknesses of each approach. The best solution is likely some nuanced mix of the two, but nuanced policy is hard to create and I rather we eat the costs of any of the two approaches that are more likely to be adopted today rather than continue to take no action.