Chipmakers worry about red tape as they build new US plants. Mark Kelly wants to help.

News Snapshot:

Challenges are starting to pile up for chipmakers as they face slowing consumer demand and labor shortages. Sen. Mark Kelly (D-AZ) is pressing Washington for action on another concern he predicts could hamper the industry in the near future: government red tape. The worry is that top manufacturers from Intel (INTC) to Micron (MU) are about to run headlong into America’s oft-criticized environmental review process as they embark on ambitious US plans in the years ahead. It could present a headwind both for the industry as well as for the Biden administration’s efforts to compete with China in the crucial...