This joint resolution seeks to overturn a Department of Commerce rule that was designed to prevent companies from misusing federal funding provided under the CHIPS Act, which distributes billions of dollars to support domestic semiconductor manufacturing. The rule, which was published in September 2023, established guardrails for how companies receiving CHIPS Act funds could use that money. If passed, this resolution would eliminate the rule entirely and prevent the Commerce Department from enforcing these restrictions on CHIPS Act recipients. The legislation was introduced in July 2024 by Representative Palmer and referred to the House Committee on Science, Space, and Technology. No specific funding or timeline is attached to this disapproval measure, as joint resolutions of this type typically require only a simple majority vote in both chambers of Congress to take effect.