Trump, Sanders Find Common Ground on Plan for US Equity Stake in Intel

Sen. Bernie Sanders (I-Vt.), a prominent critic of President Trump, expressed support Wednesday for a Trump administration proposal to seek government equity stakes in Intel.

The Details: The US government is considering taking a 10% ownership stake in Intel in exchange for federal subsidies it provided under the CHIPS and Science Act. Sanders said he was in favor of the plan, saying, “If microchip companies make a profit from the generous grants they receive from the federal government, the taxpayers of America have a right to a reasonable return on that investment.” He cited similarities to his earlier push to secure returns from CHIPS and Science Act investments. Intel stock dropped 6% since the idea was reported.

For Context: The CHIPS and Science Act was passed in 2022 during the Biden Administration. It is a US law designed to expand domestic semiconductor production and advance research in emerging technologies in an effort to reinforce national security and increase the country’s global competitiveness. Intel received $10.9 billion in support under the CHIPS and Science Act as part of a $39 billion program to boost domestic semiconductor production.

How the Media Covered It: Left- and Center-rated outlets highlighted the rare common ground between Trump and Sanders. Gizmodo (Lean Left bias) wrote, “Sanders may approve of an equity stake on paper, but President Trump’s history of bending institutions to his will looks a lot different in practice.” Fortune (Center) attributed the original idea to Sanders, saying, “For Sanders, it’s validation; and for Trump it’s a newfound strategy.” Reason (Center) wrote, “Trump's plan is just as foolish as Sanders'.” It argued that if both political extremes support federal takeovers of businesses for national security, the economy needs an alternative that rejects such policies. Outlets on the right, including Fox Business (Lean Right), covered the proposal without mentioning Sanders. 

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