Ugh. This wouldn't have done anything for the current (but almost over) chip shortage because it doesn't pay chip makers to maintain excess capacity. I agree that there are risks with TSMC and China, but TSMC factories in any western-allied country (Japan, Mexico, Germany) would meet the strategic goals. This is just political grandstanding because it's easy to sell the idea that if we build it here, there won't be a shortage, and it makes it look like politicians are doing something before an election.